ETH Drops 9% After Record $20B Futures Interest and BlackRock’s $163M Acquisition: What’s Next?

Ethereum (ETHUSDT) experienced a significant price decline over the past 24 hours, with the price dropping 9.08% from a 24h open of $2,757.84 to a current price of $2,507.30 on Binance. This sharp move follows a period of bullish momentum, where ETH futures open interest hit a record $20 billion and the spot price rallied above $2,800, supported by increased institutional activity such as BlackRock’s $163.6 million acquisition and rising accumulation addresses. However, after reaching a multi-month high and strong trading volumes earlier in the week, profit-taking by large investors and a cooling of short-term momentum contributed to the recent pullback. Despite the decline, trading activity remains robust, with a 24-hour volume of approximately $31.26 billion and market capitalization between $336.5 billion and $344.62 billion. The market is currently consolidating, with key support at $2,745–$2,755 and resistance at $2,800–$2,820; a decisive move above or below these levels will likely determine the next trend direction.