Ethereum Nears $4,000 as Leverage Climbs and Spot Demand Weakens

Ethereum approaches $4,000 amid shrinking spot inflows and rising leverage ratios on derivatives platforms. Data show an 8% decline to $3,400 between October 6 and October 13 failed to attract significant recovery buying. Concentrated liquidation orders between $3,800 and $4,000 create heightened volatility risk as the asset tests key resistance.