Core Insights - Ethereum price rebounded above $4,000 after a brief dip below this level, supported by on-chain flows and staking activity [1][2][6] Price Movement - Ethereum's price increased from an intraday low of $3,927 to $4,021, despite a 49% decline in trading volumes to $29 billion [2] - The rebound indicates a 2.2% intraday price rally, reflecting some resilience in the market [1] Staking Activity - Ethereum staking deposits rose by 2,589 ETH in the last 24 hours, totaling 35,712,343 ETH, absorbing nearly $11 million from the market supply [3] - Increased activity in staking contracts suggests a shift in investor behavior amid market volatility [2][3] Institutional Demand - T Rex's launch of the 2x BitMine ETF (BMNU) attracted $32 million in inflows on its first trading day, indicating strong corporate demand for Ethereum [4][5] - This inflow ranks as the third-largest first-day takings among US-listed ETFs approved in 2025, showcasing institutional interest despite market sentiment challenges [5] Technical Analysis - A rising wedge pattern formed earlier in September poses a bearish outlook for Ethereum's near-term price, with a potential downside target near $3,200 if selling pressure increases [6][7] - Expanding Bollinger Bands indicate rising volatility, with Ethereum trading close to the lower band around $3,916, confirming downside risks [7] - A close above $4,000 could be crucial for speculative traders aiming for a target near the 20-day moving average of $4,373 [7]