ETH Drops 4.49% After $565M Options Expiry, Eyes Reversal Amid Institutional Accumulation

Ethereum (ETHUSDT) experienced a 4.49% price decline over the last 24 hours, falling from a 24h open of $2,555.55 to a current Binance price of $2,440.68. This drop is primarily attributed to heightened volatility and profit-taking following the June 20 quarterly expiry of over $565 million in Ethereum options, alongside a recent sharp price correction on June 16 when ETH fell 5.7% amid elevated trading volumes. Despite institutional accumulation—highlighted by significant inflows into Ethereum ETFs and large-scale withdrawals from exchanges—short-term selling pressure and low volatility have kept prices under resistance at $2,580–$2,600. The market is currently characterized by stabilizing trading volumes (24h spot volume ~$43.7 billion), continued net outflows from exchanges, and a relatively steady market cap near $305 billion, with technical indicators suggesting a potential for reversal if key resistance levels are reclaimed.