ETH Dips 3.34% Amid Profit-Taking, Yet Trading Volume Surges and Support Holds Near $3,690

Ethereum (ETHUSDT) experienced a 3.34% price decline over the last 24 hours, with the current price at 3,694.76 USDT on Binance, opening at 3,822.25 USDT. The recent price movement is attributed to profit-taking and market consolidation following a period of strong bullish sentiment driven by record inflows into Ethereum spot ETFs, significant whale and institutional accumulation, and heightened activity around Ethereum’s tenth anniversary celebrations. Despite the short-term pullback, Ethereum saw robust trading volumes (24h volume on Binance: 951,565.19 ETH, equivalent to 3.57 billion USDT) and remains the second-largest cryptocurrency by market capitalization, currently around 446.9 to 450.68 billion USD. The asset has shown notable volatility, with a 24-hour range between approximately 3,539 and 3,860 USDT, and maintains a strong support base near 3,690 USDT as traders monitor for potential breakout or further retracement.