Ethereum's price fell below the $4,000 mark on September 25, 2025, driven by macroeconomic concerns and reduced ETF inflows. This decline resulted in over $71 million in long liquidations. Despite the downturn, on-chain data reveals significant whale activity, with 10 new wallets acquiring 201,000 ETH valued at $855 million. This accumulation suggests confidence in a potential market recovery, as analysts highlight that such whale behavior often precedes rebounds after market corrections.