ETH Drops 8.65% After Hitting 15-Week High—Institutional Inflows and Whale Activity Shape Outlook

Ethereum (ETH) experienced a sharp 8.65% price decline over the past 24 hours, dropping from a 24h open of $2,768.50 to a current price of $2,529.11 on Binance. This pullback follows a period of heightened volatility and bullish momentum driven by significant institutional activity, including BlackRock’s $163.6 million Ethereum purchase and $2.4 billion in ETH ETF net inflows since mid-May, as well as record-high ether futures open interest and increased whale trading. The recent price retracement is attributed to profit-taking by large investors after ETH reached a 15-week high of $2,833 and tested key resistance levels near $2,800, prompting consolidation and a correction as market participants locked in gains.

Currently, Ethereum is trading at $2,529.11 with a 24-hour trading volume of $35.49 billion and a market capitalization between $336.5 billion and $344.6 billion. Despite the recent decline, ETH maintains support above $2,500, with technical structures remaining broadly bullish as long as key support zones in the mid-$2,700s hold.