Market Overview - Ethereum has fallen below the $3900 mark, reaching a nearly seven-week low, continuing a significant correction in the cryptocurrency market, which has seen over $140 billion in market value evaporate [1] - On September 25, Ethereum dropped over 7% to a low of $3823, with a daily decline of 6.55% [1] Liquidation Events - In the past 24 hours, approximately 250,000 traders have been liquidated, with total liquidation amounts exceeding $1.1 billion [3] - The liquidation heatmap indicates that Bitcoin and Solana follow Ethereum in liquidation scale, with Bitcoin down 3.62% and Solana down 7.2% [4] Institutional Investment Trends - Institutional fund inflows have decreased, intensifying selling pressure, with nearly $300 million withdrawn from U.S.-listed Ethereum ETFs since Monday [5] - A sudden market drop on Monday led to the forced liquidation of $1.7 billion in long positions, impacting nearly all major cryptocurrencies [5] Long-term Holder Behavior - Despite Ethereum's supply on exchanges dropping to a nine-year low, indicating long-term holders are accumulating, the selling pressure from these holders is counteracting the positive impact of new fund inflows [5] - Over the past month, investors have purchased over 2.7 million Ethereum, valued at over $11.3 billion, reflecting strong confidence in Ethereum's long-term potential [5] - However, the rising activity metrics for long-term holders suggest that these investors are selling rather than accumulating [5][6] Market Dynamics - The selling behavior of long-term holders is offsetting bullish pressures from new fund inflows, resulting in a stalemate between opposing market forces [6] - If long-term holders continue to sell significantly, Ethereum's price may decline further, undermining current bullish expectations [6]

Core Viewpoint - The cryptocurrency market is experiencing significant downturns, with Ethereum dropping over 7% to a seven-week low of $3,823, and Bitcoin falling below the critical support level of $110,000, indicating increased selling pressure and potential for further liquidation if Ethereum falls below $3,800 [1][2][9]. Market Performance - Ethereum's price decline has been part of a broader market correction, with the total cryptocurrency market losing over $140 billion in value [5]. - In the last 24 hours, approximately 257,766 traders were liquidated globally, resulting in total losses exceeding $1.148 billion [4][6]. Liquidation Details - The largest single liquidation occurred on Hyperliquid for ETH-USD, amounting to $29.12 million [6]. - Bitcoin and Solana also faced significant liquidation, with Bitcoin down 3.62% and Solana down 7.2%, marking six consecutive days of decline for Solana [7]. Institutional Investment Trends - There has been a notable withdrawal of institutional funds, with nearly $300 million pulled from U.S.-listed Ethereum ETFs since the beginning of the week [9]. - The decline in institutional inflows has intensified selling pressure, contributing to the overall market downturn [9]. Long-term Holder Behavior - Despite a decrease in Ethereum's exchange supply to a nine-year low, indicating that long-term holders are withdrawing tokens for holding, the selling pressure from these holders is counteracting the positive signals from new fund inflows [10][13]. - Over the past month, investors have purchased over 2.7 million Ethereum, valued at over $11.3 billion, reflecting strong confidence in Ethereum's long-term potential [11]. - However, the rising activity metrics among long-term holders suggest that these investors are selling rather than accumulating, leading to a stalemate in market dynamics [12][13].

Core Viewpoint - Ethereum has fallen below the $3900 mark, reaching a nearly seven-week low, continuing a significant market correction that has seen over $140 billion evaporated from the entire cryptocurrency market [1] Market Performance - On September 25, Ethereum dropped over 7% to a low of $3823, with a daily decline of 6.55% [1] - In the last 24 hours, approximately 250,000 traders were liquidated, with total liquidation exceeding $1.1 billion [3] - Bitcoin and Solana experienced significant declines, with Bitcoin down 3.62% and Solana down 7.2% [4] Institutional Activity - Institutional fund inflows have decreased, intensifying selling pressure, with nearly $300 million withdrawn from U.S.-listed Ethereum ETFs since Monday [5] - A sudden market drop on Monday led to the forced liquidation of $1.7 billion in long positions, impacting nearly all major cryptocurrencies [5] Long-term Holder Behavior - Despite Ethereum's exchange supply dropping to a nine-year low, indicating long-term holders are accumulating, selling pressure from these holders is counteracting positive inflows [6] - Over the past month, investors have purchased over 2.7 million Ethereum, valued at over $11.3 billion, reflecting strong confidence in Ethereum's long-term potential [6] - The active holder metric has been rising, suggesting that long-term holders are selling rather than accumulating, which may lead to further price declines if this trend continues [6]