Ethereum accumulation has surged as long-term holders added over 1.6M ETH in recent days while Open Interest reset wiped more than $5B in leverage, creating a cleaner market that could support a steadier ETH recovery if macro and on-chain flows remain supportive.
Long-term holders added ~1.6M+ ETH across mid- and late-September.
Derivatives Open Interest (OI) saw a ~ $5B+ wipeout across major venues.
On-chain conviction and lower leverage may enable a healthier ETH price reset.
Ethereum accumulation surges as long-term holders add 1.6M+ ETH while an Open Interest reset wipes $5B of leverage — read the data-driven outlook for ETH price action.
What is Ethereum accumulation right now?
Ethereum accumulation refers to sustained net inflows into wallets that hold ETH long term. Data shows long-term holders and accumulator addresses added roughly 1.6 million ETH across September, signaling increased conviction even as derivatives markets deleveraged.
How did long-term holders and accumulators behave in September?
On September 18, accumulator addresses recorded a record inflow of ~1.2 million ETH, per on-chain monitoring data. Another ~400,000 ETH were added on September 25, indicating repeated large buys by wallets that historically retain assets rather than sell.
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These flows align with institutional and retail interest in ETH exposure, and suggest some participants are positioning for sustained exposure rather than short-term trading.
Source: CryptoQuant (plain text)
Why did Open Interest reset matter for ETH?
Open Interest (OI) reset removes excess leveraged positions, reducing the risk of forced liquidations that can amplify volatility. Between September 23–24, major venues saw multi-billion-dollar OI declines, with Binance alone losing over $3B on the 23rd and another ~$1B the following day.
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Bybit and OKX recorded losses of approximately $1.2B and $580M, respectively. The net effect: roughly $5B+ of leverage pulled from the market, leaving a cleaner price structure.
With leverage flushed out, downside cascade risk falls and price moves may become more driven by on-chain flows and spot demand. Technical indicators (RSI ~33, MACD flattening) point to oversold conditions that could allow a measured rebound if buying pressure continues.
With long-term holders accumulating and derivatives deleveraging, ETH sits at a pivotal juncture. After sliding below $4,000, price recently showed a green candle and traded near $3,925 at press time.
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