ETH Price Dips 2.84% Amid Fed Comments, ETF Milestones, and $4.93B Binance Volume

Ethereum (ETHUSDT) experienced a 2.84% price decline over the past 24 hours, with the current price at $4,635.95 on Binance, opening at $4,771.55. The price movement is primarily attributed to recent market volatility following Federal Reserve chair Jerome Powell's comments, which impacted digital asset sentiment, as well as profit-taking after Ethereum reached new all-time highs near $4,900 earlier in the week. Additional factors include significant institutional inflows into Ethereum ETFs, SEC approval for spot ETF physical redemption and options trading effective July 2025, and notable on-chain activity such as large deposits and withdrawals on Kraken. Trading volume remains elevated, with Binance reporting $4.93 billion USDT in the past 24 hours, reflecting continued strong market interest despite short-term price fluctuations. Ethereum’s market capitalization is approximately $556.5 billion, and investors are closely monitoring key support levels and the ongoing transition to Ethereum 2.0.