Ethereum Faces 10% Drop Risk as Senate Bill Fails
Ethereum (ETH)
Editor:
Eugene Serbin
cvj.ai reports that Ethereum risks a 10% decline against Bitcoin as a double-top pattern emerges on the daily chart. The ETH/BTC pair has formed two peaks near 0.03344 BTC, with the first appearing in August and the second in September. A confirmed breakdown below the 0.03078 BTC neckline could send the pair toward 0.0283 BTC.
Technical indicators show weakening momentum, with the Relative Strength Index falling toward 50 after previously exceeding 70. The bearish setup coincides with the US Senate failing to advance the Digital Asset Market Clarity Act on September 15. The procedural vote received 50 votes in favor but fell short of the 60 required to move the legislation forward.
This regulatory setback triggered a wider sell-off, with Bitcoin declining approximately 4% to around $75,900. Additionally, approximately 709,400 ETH moved onto Binance on September 11, marking the highest daily inflow since June. Rising exchange deposits increase the supply of ETH available for trading, reinforcing the cautious outlook. Support from the 20-day exponential moving average near 0.03162 BTC could allow for a rebound, but a break above 0.03344 BTC would invalidate the double-top scenario.
How the market reacted
Whalio's own Binance spot order flow for ETH, measured when this story was written up on 16 September 2026. Not the outlet's figures.
Ethereum is trading at $2,398.26 with a 24-hour buy ratio of 43.3%, indicating that selling pressure has outweighed buying over the full day. The 1-hour buy ratio stands at 58.1%, suggesting a short-term shift toward buying, while the 4-hour ratio is 48.6%, showing near-even balance. The 1-hour volume delta is positive at $2,721,957, contrasting with a negative 4-hour delta of -$3,636,577. This divergence indicates that recent buying activity is not yet sufficient to offset the larger selling trend seen over the past four hours. The cumulative volume delta for the 24-hour close is -$45,502,670, confirming that net selling has dominated the session. Spot volume for the period reached $1,080,311,533 across 3,412,911 trades.
The latest daily buy ratio of 46.8% sits at the 16th percentile of the last 322 days, against a median of 49.5% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ETH, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 48.8%, compared to a 24-hour ratio of 43.3%, showing a decline in buying interest. The 24-hour volume was 1.33 times the weekly average, indicating an unusual surge in trading activity. Volume delta for the week totaled -$228,696,826, with net buying occurring on only 2 of the 7 days. This contrasts with the 24-hour volume delta of -$144,070,014, suggesting that the recent selling pressure is part of a broader weekly downtrend. The price has changed -3.5% over the 8-day period, reflecting the cumulative impact of this sustained selling pressure.