Overview

• ETH briefly fell to about $3,993 on Sept. 25 before hovering near $4,030, extending a weekly decline of roughly 12%–13%.
• Leveraged traders lost about $183 million in 24 hours, and wallet 0xa523 saw a 9,152 ETH long fully liquidated, leaving the account with under $500,000.
• Glassnode data shows just 14.8 million ETH on centralized exchanges, with roughly 2.7 million ETH exiting in the past month and the exchange supply ratio at a nine‑year low of 0.14.
• Institutional entities now control around 10% of supply, including about 6.75 million ETH in spot ETFs and approximately 5.26 million ETH accumulated by roughly 68 corporate and treasury buyers since April, much of it staked.
• On-chain trackers reported aggressive dip buying, with 11 wallets accumulating about 295,861 ETH from exchanges and OTC desks, while spot Ether ETFs logged net outflows of roughly $296 million this week.