Keynote
- ETH prices fell below $4,000 on September 25th.
- Traders lose more than $45 million after a long position of $36.4 million has been wiped out.
- Exchange reserves have fallen to their lowest level in nine years, indicating a period of aggressive institutional accumulation.
Ethereum
ETH
$4 013
24-hour volatility:
4.0%
Market Cap:
$484.81 b
Vol. 24H:
$38.51 b
On September 25th, it fell below the $4,000 mark and erased its market capitalization of around $22 billion in just a few hours. The sudden, sharp corrections sparked a wave of liquidation throughout the market.
According to Lookonchain, the most dramatic loss came from trader 0xA523, whose entire 9,152 ETH long position worth around $36.4 million, was fully liquidated.
ETH has just fallen below $4,000!
The biggest loser, 0xa523, just wiped it off.
His entire 9,152 $ eth($36.4 million) The long position has been fully settled.
His total loss is now over $45.3 million, leaving his account under $500,000. pic.twitter.com/jplqjl0cpy
– lookonchain (@lookonchain) September 25, 2025
The trader’s total loss is currently above $45.3 million, leaving under $500,000 in the account.
At the time of writing, ETH is hovering at nearly $4,030, showing a weekly drop of 12%. The sale is also reflected in the performance of Spot Ether ETFs, which have seen net flow rates of $296 million so far this week.
Whales accumulate and exchange reserves plummet
Amid this turbulent surge in ETH prices, whales have the opportunity to buy dips. Early on September 25th alone, 10 newly created wallets scooped up 201,000 tokens worth around $855 million.
Whales are actively purchasing $ eth now.
Today, 10 new wallets are purchasing 201K ETH worth $855 million from the exchange and OTC.
This often happens when ETH is approaching the bottom. pic.twitter.com/eubmxe5cwz
– Zyn (@zynweb3) September 25, 2025
According to Crypto commentator Zyn, such aggressive accumulation generally occurs when prices approach a potential bottom.
On-chain data shows that ether in centralized exchange has fallen to its lowest level since 2016. GlassNode reports 14.8 million ETH currently being held on the exchange, which has been down 20% since mid-July. It’s less than half of what was held two years ago.
We also see similar trends in data from Cryptoquant. This suggests that the exchange supply rate, which shows availability of liquidity, has dropped to its nine-year low of 0.14. Analysts see this as a sign of strong institutional demand for ether and long-term price trust.
Long-term confidence remains
Popular Crypto Strategist Ted I believe That ETH could reach $10,000 on the current bull cycle. However, he warned that the fix was inevitable, pointing to the $3,800 level as a strong purchasing zone ahead of a potential fourth-quarter rally.
The S&P 500 is taking part in the new ATH.
Kim is in the new Ass.
but $ BTC and $ eth It’s late.
I’m sure they’ll catch up in the fourth quarter, but it’s not without dips.
Once that happens, the major rally begins. pic.twitter.com/u0nsdtjcgv
– Ted (@tedpillows) September 24, 2025
Meanwhile, Tom Lee from Bitmine Technologies suggests ETH as one of the best ciphers ETH can buy now. He recently predicted a gathering in the $12,000-$15,000 zone by the end of the year.
Ether is currently about 18% below its all-time high of $4,953, recorded on August 25th. While recent declines have shaken retailers, experienced investors believe that ongoing accumulation could lead to strong rebounds.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information, but should not be considered financial or investment advice. Market conditions can change quickly, so we recommend that you review your information yourself and consult with an expert before making a decision based on this content.
A crypto journalist with over five years of experience in the industry, Perth has worked with leading media outlets in the Crypto and Finance world, gathering experience and expertise in this field after surviving the bear and bull market for many years. Perth is also the author of four self-published books.
Parth Dubey on LinkedIn