ETH Token Slides 10% Amid Profit-Taking and High Volume Despite Strong ETF Inflows

Ethereum (ETHUSDT) experienced a significant 24-hour price decline of -10.15%, falling from a 24h open of $2,764.32 to a current price of $2,483.64 on Binance. This sharp drop follows a period of strong bullish momentum and high trading activity, with ETH previously rallying above $2,800 and attracting substantial institutional inflows, including $240.7 million into U.S. spot Ethereum ETFs on June 11. The recent price reversal is attributed to profit-taking by large holders after the rally, increased short positioning by major investors (including the sale of 40,000 ETH by a single entity), and broader market volatility despite continued ETF inflows and robust trading volume. Currently, Ethereum is trading with a 24-hour volume of $26.71 billion and a market cap near $336.5 billion, consolidating below key support levels after recent highs, with technical indicators suggesting short-term volatility amid an overall bullish longer-term structure if support is regained.