Ethereum rose to roughly $2,750, a nine-month high, as Bitcoin moved above $85,000 despite concerns over the CLARITY Act failure, rising U.S. interest rates and geopolitical tensions. Whale activity, expanding non-empty Ethereum wallets and staking have supported the bullish case: one unidentified holder sold 1,107 BTC worth more than $86 million over five days, bought 34,422 ETH and staked the entire amount. U.S. spot ETH ETFs have drawn substantial capital in recent months despite posting a negative week. The rally follows ETH's September 21 move to $2,719 through $2,672 Fibonacci resistance, aided by ETF demand, short liquidations and rising Binance derivatives activity. Several analysts nevertheless see a potential bull trap, with downside targets ranging from $1,700-$1,800 to $1,400-$1,500 before a possible longer-term recovery. Others see $2,900-$3,000 as the area where a correction could begin. ETH's ability to hold above $2,672 and sustain spot demand remains central to the breakout case.