ETH Faces 2.78% Dip as Whale Sales and Pectra Upgrade Trigger Short-Term Consolidation

Ethereum is currently trading at $2,578.89 with a 24-hour trading volume of approximately $25.5 billion, reflecting a 2.78% decline from the previous open of $2,652.60. The recent price decrease follows a period of strong bullish momentum and significant trading activity, which included the implementation of the Pectra network upgrade and notable whale sales totaling 1,000 ETH in the last 24 hours. Despite strong institutional inflows into Ethereum-based ETFs and record-high options open interest, the price pullback appears to be driven by short-term profit-taking after recent gains, increased selling pressure from early investors, and technical resistance near the $2,650 level. The overall market structure remains bullish, but near-term consolidation and resistance levels are influencing current price action.