ETH Drops 6.5% Amid Surging Volume, Institutional Moves, and Macro-Driven Market Shifts

Ethereum (ETHUSDT) experienced a significant price decline over the past 24 hours, with the price dropping 6.52% from a 24h open of $2,429.17 to a current price of $2,270.85 on Binance. This sharp move was driven by a combination of factors: a substantial increase in trading volume—hourly peaks reached nearly 800,000 ETH, about eight times the average—coincided with large institutional transactions, including a notable 5,000 ETH sale on Coinbase. The downturn was further amplified by broader market weakness following disappointing U.S. retail sales data, which led to a sell-off in U.S. equity markets and contributed to risk-off sentiment across crypto assets. Despite the volatility, liquidity remained robust, with rapid rebounds indicating strong buying interest at lower levels. Over 450,000 ETH was accumulated in the $2,400–$2,450 range, suggesting ongoing accumulation by larger holders. Market capitalization fluctuated between $275–295 billion, and options market activity points to key support around $2,457 and resistance near $2,580–$2,600. Overall, Ethereum’s recent price action reflects heightened sensitivity to macroeconomic news and institutional flows, with active trading and accumulation signaling continued market engagement.