ETH price has pulled back about 11% from the recent all-time high (ATH) of $4.95K hit in August and about 7.5% over the past week. Although the recovery push in September lifted the altcoin close to the level again, the post-Fed rate decision sell-off dragged it lower to $4.5K.
ETH had a massive speculative interest-A bullish sign. Besides, the Funding Rates were below 0.04-0.06 levels that marked the previous local top in 2024 and 2025. Simply, the market was not overheated (less frothy), to warrant concern in the Futures market.
In short, the altcoin still had room for growth if past patterns repeat. In fact, the recent 25bps Fed rate cut was another catalyst for risk appetite says experts. Moreover, as of now, the Open Interest (OI) across the Futures market was at record highs near $30 billion shows the recent strong retail activity in markets.
As of now, at the time of writing this article, ETH is being trade around $4,180 and has seen a decline in its price by over 6% in the past 24 hours and stands at a market capitalization of $504.2 Billion.