ETH Price Drops 5.6% Amid $197M ETF Outflows and High Volatility on Binance

Ethereum (ETHUSDT) experienced a notable price decline of 5.60% over the past 24 hours, with the current price at 4,134.13 USDT on Binance. This drop is primarily attributed to increased selling pressure following a sharp break below key support levels, as highlighted in recent technical analyses, and broader market weakness affecting major cryptocurrencies. Additional factors include significant outflows from Ether ETFs ($197 million), which may have contributed to short-term bearish sentiment, despite ongoing accumulation by large holders and positive developments such as Layer 1 chains migrating to Ethereum. Trading volume remains high, with Binance reporting substantial activity and a 24-hour range between 4,113.63 and 4,388.65 USDT, reflecting continued volatility and strong market interest in Ethereum.