📉 Ethereum Drops 7% From $3,900 — But Analysts Still Eye All-Time Highs
Ethereum (ETH) fell more than 7% in the past, going down to around $3,630 after briefly reaching $3,900.
The decline comes after a strong climb in July, when the second-largest cryptocurrency in the world rose more than 50%, its highest monthly increase in three years.
Even if the price has dropped recently, on-chain data shows that the trend may not be finished. Glassnode's most recent report suggests that the price might reach a new all-time high (ATH) of $4,900. This is due to positive investor mood, increased ETF inflows, and rising open interest (OI) in futures markets.
Glassnode says that Ethereum is trading close to where it was in March 2024, although unrealized earnings are still smaller than they were then. This difference means that there is a lot of room for growth since investors are still holding on, which shows that they believe prices will keep going up.
The company's research reveals that if unrealized profits reach the same levels as they did in 2024, ETH would probably rise above $4,900, which would be a new all-time high and a test of the important psychological barrier at $5,000.
This might show that investors are starting to see Ethereum as a basic financial asset instead of just a speculative token.
The rise in open interest is another sign that Ethereum is on the rise. Crypto futures data shows that more traders are buying ETH with the hope that the price will go up even higher. Ethereum's OI has been a big part of the altcoin market's recovery.
In July 2025, spot Ethereum ETFs, notably BlackRock's iShares Ethereum ETF, received more than $4 billion in new money, bringing the total value of ETH ETFs to $21.85 billion. The spike shows that Ethereum is becoming more popular with institutional investors, which might make future price changes much bigger.
Ethereum is having trouble getting over $4,000, but strong technicals, investor confidence, and institutional demand all point to a bright future.
