ETH Drops 6.76% Amid $320M Consensys Buy and Record ETF Inflows, Testing Key Resistance

Ethereum (ETH) experienced a significant 24-hour price decline of 6.76%, dropping from 2606.03 to 2429.86, as per Binance data. This pullback follows a period of heightened volatility and strong institutional activity, including a major $320 million ETH acquisition by a Consensys-linked wallet and record weekly inflows into spot ETH ETFs, which had previously supported upward momentum. Despite robust on-chain fundamentals—such as increased staking, a growing stablecoin supply, and continued development activity—ETH faced resistance near the $2,660-$2,745 range, with recent attempts to break higher being rejected. Trading volumes remain strong, with 24-hour volume around $17 billion and market capitalization at approximately $314.76 billion, but the sharp price correction reflects ongoing market uncertainty and profit-taking after recent rallies.