ETH Takes a Breather at $2,735 While BitMine's 5.983M Coin Stash Winks From the Sidelines 🫡

Ethereum ($ETH) traded at $2,735 on September 23, down 0.61% over the prior 24 hours, according to price analysis published the same day. The dip amounted to a pause rather than a reversal, coming after a week in which the token gained 15% and reclaimed levels not seen since October.

US spot $ETH exchange-traded funds pulled in roughly $270 million on Monday, the largest single-day inflow since October and the second consecutive day of positive flows. The two-day streak was worth $413.8 million, erasing the prior three days of outflows. The same session was strong for US spot crypto ETFs overall: $BTC led with $714.75 million in inflows, while $ETH added another $162.31 million. Altcoin products also attracted capital, with $ZEC at $32.81 million, $SOL at $28.87 million and $XRP at $20.02 million, according to figures cited by market commentator Suzzy | DeFi (@SuzzyDefi).

Treasury firm BitMine Immersion added 12,500 ETH to its holdings, building on last week's 27,562 ETH purchase and bringing its total stack to 5.983 million ETH, valued at $16.5 billion at time of writing. Chairman Thomas Lee described Q3's $ETH outperformance as "a prelude to a potentially stronger up move" in Q4, citing institutional underweighting of crypto relative to AI stocks this year.

The rally has held despite a Federal Reserve rate hike, a Houthi advance and a stalled Clarity Act in the Senate. ETF inflows and resistance levels now matter more to price than geopolitical headlines, according to the analysis.