ETH Drops 5% Amid $22M Liquidations and Whale Activity as Options Expiry Drives Volatility

Ethereum (ETH) experienced a significant price decline of -5.16% over the past 24 hours, dropping from an opening price of $2,528 to $2,397.46 according to Binance data. This downward movement is primarily attributed to a combination of factors: substantial long and short liquidations totaling over $22 million, ongoing profit-taking and repositioning following recent ETF-driven rallies, and heightened market volatility linked to large whale transactions and options expiry. Despite recent institutional inflows and a $2 billion weekly stablecoin inflow to Ethereum, short-term selling pressure and net outflows from exchanges have contributed to the price pullback. Currently, ETH is trading at $2,397.46 with robust 24-hour trading volume and a circulating supply of approximately 120.72 million ETH, as the market consolidates ahead of potential volatility from options expiry and continued institutional activity.