Ethereum (ETH) has experienced a sharp price drop of 8.65% in the past 24 hours, falling from a 24-hour opening price of $2,768.50 to the current Binance price of $2,529.11. This pullback comes after a period of high volatility and bullish momentum driven by significant institutional activity, including BlackRock's $163.6 million Ethereum purchase and $2.4 billion in net inflows into ETH ETFs since mid-May, as well as record Ether futures open interest and increased whale trading.