From 03:00 to 03:15 (UTC) on 2026-04-01, the ETH price saw unusual movement. The interval return rate was +0.62%. The lowest point of the candlestick was 2088.43 USDT, and the highest point was 2106.93 USDT, with an amplitude of 0.89%. Against the backdrop of generally increasing volatility in crypto assets, ETH’s short-term trading activity has been active, on-chain heat has risen, and market attention has clearly increased.
The main drivers of this price move are ongoing and continually amplified net inflows of U.S. spot ETF funds. ETF net inflows carried forward the strong momentum from late March into early April, driving a significant rise in spot ETH demand. Data shows that top ETF products increased net inflows in the price-move window, and combined with exchange ETH balances continuing to decline to only 8.7% of total supply, market-available liquidity has been greatly compressed. The resulting supply-demand imbalance has rapidly pushed up the coin’s price.
In addition, on-chain monitoring indicates that within the short term, the amount of net ETH outflows from exchanges increased month over month. Large funds shifted toward staking contracts and long-term holders’ addresses, further tightening liquidity. At the same time, the number of active on-chain addresses on Etherscan has increased, with trading volume and Gas fees rising in parallel. Ecosystem activity such as DApps and NFTs has increased, and some capital has shown a clearly stronger willingness to chase the rally. These factors have worked together to amplify the upward momentum driven by liquidity, and market sentiment has improved in the short term.
Current ETH exchange liquidity is at a historical low. If ETF fund inflows slow down or turn into net outflows, it will intensify price volatility and increase the risk of pullbacks. Meanwhile, investors should be alert to changes in on-chain activity and the impact of large fund flows on short-term price action, including resistance near 2100 USDT and the dynamics of major on-chain positions. Users should focus on tracking ETF flows, changes in exchange balances, and on-chain activity levels to continuously obtain real-time market updates.
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