Summary
Ethereum (ETH) was US$2688.91, up 0.83% over 24h, per CoinMarketCap's own page data. CMC AI's price-analysis TLDR: Ethereum is up 1.03% to $2,697.05 in 24h, closely tracking Bitcoin's +1.15% move, primarily driven by sustained institutional demand via spot ETF inflows. It shows a strong correlation (0.828) with the S&P 500, indicating a macro-driven, liquidity-sensitive move. 1. **Primary reason:** Strong institutional ETF inflows, with U.S. spot Bitcoin and Ether ETFs attracting a combined $451.61 million in fresh capital on September 23, signaling broad risk-on sentiment. 2. **Secondary reasons:** Robust staking demand, with 1.68 million ETH waiting to be staked, and technical support holding above the key $2,626 level. 3. **Near-term market outlook:** If ETF inflows persist and ETH holds above $2,626, a retest of $2,805 resistance is likely; a break below $2,626 risks a drop toward the $2,544–$2,549 support zone.