Ethereum Withdrawals Hit 3-Year High as Price Climbs
Ethereum (ETH)
Editor:
Eugene Serbin
cvj.ai reports that Ethereum has risen 6% in 24 hours to trade above $2,700, driven by a surge in accumulation. Binance ETH withdrawals have reached a three-year high, with monthly averages crossing 90,000 transactions. This level is double the figure recorded at the start of the year, indicating investors are moving assets into private wallets.
CryptoQuant data shows ETH has rallied 80% from $1,510 over three months, moving above April’s high. Bitcoin has struggled to hold firmly above its May high during this period. CryptoQuant described the withdrawal trend as fairly sudden and noted that accumulation is stronger than Bitcoin’s. Crypto Patel stated that Ethereum’s higher-timeframe structure has flipped bullish following strong buying from the $2,300 demand area.
He identified the $2,483 to $2,584 fair value gap as an important zone for the next price reaction. The next upside area sits between $2,715 and $2,900, with larger resistance between $3,070 and $3,404. US-based Ethereum ETFs faced outflows of $141.4 million on Tuesday and $224.1 million on Wednesday, pulling August’s total below $190 million.
How the market reacted
Whalio's own Binance spot order flow for ETH, measured when this story was written up on 22 September 2026. Not the outlet's figures.
Whalio spot data shows Ethereum trading at $2,776.19 with a 24-hour buy ratio of 52.4%, indicating net buying pressure over the full day. However, shorter-term readings show a shift, with the 1-hour buy ratio at 44.4% and the 4-hour ratio at 49.3%, suggesting immediate buying momentum is fading relative to the daily average. The 24-hour volume delta is positive at $73,765,112, meaning buyers have absorbed more volume than sellers over the day. In contrast, the 1-hour volume delta is negative at -$2,101,418, reflecting recent selling pressure. The cumulative volume delta (CVD) closed at +$19,928,846, confirming that net buying has dominated the 24-hour period despite recent dips. Spot volume reached $1,560,312,645 with nearly 4.8 million trades, showing high liquidity.
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 49.4%, making today’s 24-hour ratio of 52.4% slightly above average by 3.0 points. Trading volume was 1.92 times the weekly average, indicating an unusually active day for the asset. The 8-day price change was +10.4%, with a total volume delta of +$49,396,924 for the period. While today’s volume is elevated compared to the average, the weekly context shows that net buying has only occurred on 2 of the past 7 days. This suggests that despite the high volume and price increase, sustained accumulation has been intermittent rather than continuous.