Key Points
- ETH drops below $4,000, liquidating $36M position and showcasing market volatility.
- Ethereum futures dominance hits 67%, surpassing Bitcoin with strong investor interest.
- ETH balance on exchanges drops 58% from 35M to 14.8M, indicating long-term holding.
Recently, Ethereum’s price dropped below $4,000, triggering a significant market event. A trader’s $36 million ETH position, totaling 9,152 ETH, was completely liquidated, leaving their account with less than $500,000.
Despite this volatility, Ethereum’s market remains resilient. As of writing, Ethereum (ETH) is priced at $4,022.03. The price has seen a slight increase of 0.08% over the past hour, but a 3.62% decline over the last 24 hours. Over the past 7 days, the price has dropped by 12.18%.
Despite these fluctuations, Ethereum’s market performance has remained resilient, suggesting investor confidence is intact. Additionally, BlackRock recently sold 6,366.75 ETH, valued at approximately $25.6 million, but Ethereum’s ability to recover points to strong ongoing demand for the asset.
Ethereum’s Growing Dominance in the Futures Market
Ethereum has also experienced significant growth in its market dominance. As of June 2025, Ethereum represents 67% of the perpetual futures volume, surpassing Bitcoin.
Furthermore, Ethereum’s futures open interest stands at 43.3%, reflecting strong participation from investors. This growing interest in Ethereum futures is an indication of rising confidence in the cryptocurrency, which could influence its price in the coming months.
In addition to this futures market growth, Ethereum’s on-exchange supply has also seen a dramatic shift. The Glassnode chart highlights a significant reduction in Ethereum balances on exchanges.
At the start of 2025, Ethereum balances on exchanges exceeded 35 million ETH. However, by September 24, 2025, this number had dropped to 14.8 million ETH, marking a sharp decline.
This suggests a growing trend of ETH being held in long-term storage or withdrawn from exchanges, reducing the amount of ETH available for trading.
Bullish Chart Pattern Signals Potential Upward Momentum
Analysis from Titan of Crypto reveals that Ethereum is currently forming a right-angled broadening wedge pattern. After a breakout above $4,500, Ethereum’s price has pulled back to retest the upper boundary of the wedge, now acting as potential support.
This pullback coincides with a bullish fair value gap (FV9), marked in green on the chart, which presents a potential entry point for traders.
The confluence of the wedge structure and fair value gap strengthens the case for an upward move. Ethereum is currently priced around $4,000, with potential support between $3,750 and $3,800.
A successful retest could pave the way for a rally towards $5,000 or higher, depending on market conditions.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/ethereum-supply-hits-9-year-low-as-36m/