Ethereum shows positive on-chain signals after the Fed cut interest rates.

On-chain data shows that Ethereum (ETH) is signaling bullish after the Federal Reserve America (Fed) cut interest rates by an additional 0.25 percentage points.

• Whales (10K–100K ETH) have accumulated an additional 1 million ETH, raising their total holdings to 21.39 million ETH since the beginning of September.

• Accumulation wallets ( have never sold ) recorded an inflow of 4.1 million ETH in just half a month, nearly reaching the record level of August.
• ETH inflow to the exchange has decreased significantly, from 1.8 million to 783K ETH – the lowest level since July.
• The USDT supply on Ethereum increased by 11 billion USD, indicating an expansion of the "waiting capital flow."
• Network activity is recovering with the number of active addresses and transactions increasing again.

However, ETH has still been constrained within a narrow range for the past three weeks, trading around the 20-day SMA and resistance at 4,500 USD. If it breaks through this area, the nearest support will be the 50-day SMA at 4,300–4,400 USD and the psychological level of 4,000 USD.