ETH Drops 2.61% Amid $200M Whale Buys and Futures Market Volatility—What’s Next for Ethereum?

Ethereum (ETH/USDT) experienced a 2.61% decline over the past 24 hours, with the price dropping from 3681.40 to 3585.38 USDT on Binance. This downturn is primarily attributed to increased selling pressure in the futures market, as indicated by a low taker buy/sell ratio, and overall market volatility following a recent correction from highs near 3940 USDT. Despite notable whale and corporate purchases exceeding $200 million and reports of significant institutional holdings, short-term sentiment has shifted bearish due to profit-taking and market fatigue after a strong rally.

Currently, Ethereum trades at 3585.38 USDT with a 24-hour trading volume between $29.45 billion and $35.03 billion, a market capitalization around $432–434 billion, and a circulating supply of approximately 120.71 million ETH. The asset remains the second-largest cryptocurrency by market cap, with recent price action reflecting both heightened volatility and active trading.