Ether has gained 75% against Bitcoin in Q3 but has slightly underperformed in September. Despite this, traders remain optimistic that Ether can reach a price of $5,000 by the end of 2025. Data from Glassnode indicates that Ether maintains a significant market presence in futures trading, with its open interest dominance at 43.3%, while Bitcoin sits at 56.7%. Furthermore, Ethereum’s perpetual futures volume has reached an all-time high of 67%. Analyst Crazzyblockk noted that reclaiming the $4,580 level is crucial for a potential breakout. With over 1.28 million ETH shifting to long-term accumulation addresses recently, a successful reclaim could shift market sentiment favorably. However, there is growing concern over declining retail investor participation, as evidenced by negative net taker volumes on exchanges like Binance. While institutional demand has surged—with US spot ETH ETFs seeing total net assets increase significantly—retail engagement has remained weak, creating a divergence in market behavior. A positive shift in retail flows could potentially catalyze a rally in Ether prices, complementing ongoing institutional growth.

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