Ethereum price reclaims $4,100 as institutional dip-buying heats up 

Ethereum’s price has rebounded above $4,100 as U.S. investors rush to “buy the dip” amid a record Coinbase Premium spike.

Ethereum traded around $4,134 at press time, bouncing back sharply after the Oct. 10 flash crash that briefly sent the token as low as $3,686. The 24-hour move added roughly 8% to ETH’s price and came alongside a notable rise in activity.

Over the past dat, trading volume has risen nearly 19% to $56.2 billion, while derivatives activity spiked. Futures volume jumped 52.9% to $128.1 billion, and open interest increased by 9.3% to $48 billion, according to CoinGlass data.

These numbers point to rising participation and fresh capital re-entering the Ethereum (ETH) market rather than short-term covering.

Ethereum’s Coinbase Premium hits 2025 high

As global markets were selling off during the weekend flash crash, an unusual divergence emerged between U.S. onshore demand and activity on international platforms.

According to an Oct. 13 analysis by CryptoQuant contributor CryptoOnChain, Ethereum’s Coinbase Premium Index, which tracks the price difference between Coinbase and Binance, surged to +6.0, the highest reading this year. 

Usually, panic-driven sell-offs turn this indicator negative as U.S. traders sell at discounts. But this time, the premium flipped sharply positive, suggesting that institutional and U.S.-based investors were buying aggressively while others were fleeing.

CryptoOnChain noted that the move reflects “institutional dip-buying at scale.” Many of these large investors appear to view Ethereum’s pullback as a buying opportunity, not a reason to exit. The trend aligns with continued inflows into spot ETH exchange-traded funds, most of which use Coinbase as their custodian, further explaining the strong U.S. buying pressure.

Historically, spikes in the Coinbase Premium have often preceded major price recoveries. Similar movements were seen in November 2024 during the Ethereum ETF launch and again in mid-2025 when U.S. whales accumulated ahead of expected rate cuts. Each time, ETH prices rallied 20–40% in the following weeks.

Ethereum price technical analysis

Ethereum’s chart suggests the market is stabilizing after the flash crash. The relative strength index sits around 46, showing neutral momentum. Most short-term moving averages (10–50 day) hover slightly above current prices, acting as resistance.

Meanwhile, longer-term averages (100–200 day) remain supportive, reflecting underlying strength. Key resistance for ETH is currently located between $4,250 and $4,450.

If inflows persist, a clear break above this range might pave the way for a move toward $4,600 or even $5,000.  Strong support for the downside is located between $3,700 and $3,900, where the 100-day average and lower Bollinger Band converge.