ETH Sees 4% Drop Amid Geopolitical Tensions, But $82M Outflows Signal Institutional Accumulation

Ethereum (ETH) experienced a 4.05% price decline over the past 24 hours, falling from a 24h open of $2,519.40 to a current Binance price of $2,417.29. This downward movement is primarily attributed to increased selling pressure linked to recent geopolitical tensions in the Middle East, as well as a brief market correction observed on June 20. Despite the short-term dip, on-chain data shows over $82 million in net outflows from exchanges, indicating accumulation by institutional investors and whales, which is typically a bullish signal for the medium to long term.

The market remains in a consolidation phase, with ETH trading in a narrow range and daily volumes between $20.99 billion and $37 billion. The circulating supply is approximately 120.7 million ETH, and the market cap is estimated at $305–$309 billion. Technical indicators suggest the price is currently supported near $2,400, with resistance at $2,563–$2,600; a breakout could occur if buying momentum resumes. Overall, while short-term volatility persists, underlying accumulation and continued growth in new wallet addresses reflect sustained investor interest in Ethereum.