Ethereum price has rallied above $4,100 as US investors rush to buy on the edge after a record jump in Coinbase premiums.
summary
- Ethereum price rebounds above $4,100 amid a surge in trading and derivative trading volumes.
- Coinbase Premium surged to +6.0, indicating strong buying by US institutional investors.
- Technical analysis shows that ETH has stabilized above $4,000 with bullish potential going forward.
Ethereum was trading at around $4,134 at the time of writing, but the flash crash on October 10 caused the token to briefly drop to $3,686 before rebounding sharply. This 24-hour movement pushed the price of ETH up by around 8% and was accompanied by a notable rise in activity.
Historical data shows trading volume rose nearly 19% to $56.2 billion amid a surge in derivatives trading. Futures trading volume rose 52.9% to $128.1 billion, and open interest rose 9.3% to $48.0 billion, according to data from Coinglass.
These numbers indicate an increase in participants and new funds re-entering the Ethereum (ETH) market, rather than short-term cover.
Ethereum’s Coinbase premium reaches its highest level in 2025
As global markets sold off in the flash crash over the weekend, there was an unusual disconnect between U.S. land demand and activity on international platforms.
According to an October 13 analysis by CryptoQuant contributor CryptoOnChain, Ethereum’s Coinbase Premium Index, which tracks the price difference between Coinbase and Binance, surged to +6.0, hitting its highest level this year.
Panic selling usually drives this indicator negative as US traders sell at a discount. But this time, the premium has sharply turned positive, suggesting that institutional and US-based investors are buying aggressively while others are fleeing.
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CryptoOnChain noted that the move reflects “massive buy-in by institutional investors.” Many of these large investors appear to view Ethereum’s exit as an opportunity to buy rather than a reason to exit. This trend is consistent with continued inflows into spot ETH exchange-traded funds, most of which use Coinbase as their custodian, further explaining the strong buying pressure in the US.
Historically, spikes in Coinbase premiums have often preceded significant price recoveries. Similar movements were seen in November 2024 during the launch of the Ethereum ETF and again in mid-2025 when the US whales piled up ahead of an expected rate cut. Each time, ETH price rose 20-40% in the following weeks.
Ethereum price technical analysis
Ethereum’s charts suggest that the market is stabilizing after the flash crash. The relative strength index is around 46, indicating neutral momentum. Most short-term moving averages (10-50 days) are hovering slightly above the current price and act as resistance.
Ethereum daily chart. Credit: crypto.news
On the other hand, the long-term average (100 to 200 days) remains supportive, reflecting firmness. The main resistance level for ETH is currently between $4,250 and $4,450.
If inflows continue, a clear break above this range could pave the way for $4,600 or even $5,000. Strong support on the downside lies between $3,700 and $3,900, where the 100-day average and the lower Bollinger Bands intersect.
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