ETH Slides 3.8% Amid Options Expiry Volatility, Whale Accumulation Hits Six-Year High

Ethereum (ETH) is currently trading at $2,416.31 on Binance, reflecting a 3.80% decline over the past 24 hours from a 24h open of $2,511.83. The recent price drop is primarily attributed to heightened market volatility surrounding the June 20 options expiry event, which involved significant open interest and contributed to increased trading activity and short-term price pressure. Additional factors influencing price include substantial outflows from spot exchanges, indicating accumulation by large holders, and notable whale activity, such as the largest daily ETH accumulation since 2018. Despite positive developments like the approval of US Ethereum ETFs and institutional purchases, including BlackRock’s reported $750 million acquisition, these bullish signals have yet to offset the immediate impact of derivatives-driven volatility and profit-taking. Trading volume remains elevated, and ETH continues to see strong institutional interest, suggesting potential for future price stabilization or recovery as market conditions evolve.