ETH Price Drops 3.57% Amid $159M Liquidations and Surging $44.65B Trading Volume

Ethereum (ETHUSDT) experienced a 3.57% price decline over the past 24 hours, with the current price at $4,122.91 according to Binance. The drop is primarily attributed to increased market volatility following cautious investor sentiment ahead of Federal Reserve Chair Jerome Powell’s upcoming speech and recent US Producer Price Index (PPI) inflation data, which triggered a broader market correction. Additionally, Ethereum accounted for $159 million in liquidations out of $375 million total across the crypto market, reflecting heightened trading activity and risk-off behavior. Despite the decline, trading volume surged to approximately $44.65 billion, indicating robust market participation, while technical indicators suggest mixed short-term prospects with both bearish and potential bullish scenarios depending on support and resistance levels.