ETH Drops 3.57% Amid Profit-Taking and Market Reaction to U.S. Treasury Bitcoin Announcement

Ethereum (ETHUSDT) experienced a 3.57% price decline over the past 24 hours, with the current price at 4,445.92 USDT on Binance, opening at 4,610.66 USDT. The price change is primarily attributed to profit-taking after ETH briefly approached its all-time high, technical indicators signaling overbought conditions (RSI above 70, StochRSI above 90), and broader market reactions to the U.S. Treasury Secretary’s announcement regarding Bitcoin purchases for government reserves, which influenced major cryptocurrencies including Ethereum. Despite the short-term dip, Ethereum maintains strong trading activity with a 24-hour volume of approximately 4.23 billion USDT on Binance and a market capitalization near $540 billion, reflecting continued institutional interest and bullish sentiment in the broader trend.