ETH Slides 6.7% Amid Profit-Taking Despite $321M ETF Inflows and Major Institutional Moves

Ethereum (ETH) is currently trading at $2,428.51 on Binance, reflecting a 6.72% decline over the past 24 hours from an opening price of $2,603.59. The recent price drop can be attributed to profit-taking following a sharp rally earlier in the week, increased volatility after large institutional reallocations—such as BlackRock moving approximately $561 million from Bitcoin to Ethereum—and notable whale activity, including a purchase of 3,046 ETH. Despite strong inflows into spot ETH ETFs ($321 million in the last week) and the positive impact of the Pectra upgrade launched on May 7, 2025, short-term resistance between $2,660 and $2,745 has not been decisively broken, leading to consolidation and downward price pressure. Trading volume remains high, indicating active market participation, while developer activity and institutional interest continue to support Ethereum’s long-term fundamentals.