ETH Faces 2.07% Drop as Whale Transfers and Death Cross Pattern Signal Cautious Outlook

Ethereum (ETHUSDT) experienced a 2.07% price decline over the last 24 hours, with the current price at 2424.37 USDT on Binance. This decrease is attributed to significant whale activity, including the transfer of over 95,920 ETH to exchanges, which has raised concerns about potential selling pressure. Additionally, the appearance of a "death cross" pattern on the two-week chart and recent volatility have contributed to a cautious market sentiment, despite notable inflows of $429 million into Ethereum investment products and a recent bullish breakout from a descending wedge pattern. Trading volume remains strong, with 24-hour volume between $15.67 billion and $17.41 billion, and market capitalization ranging from $293.12 billion to $296.96 billion, reflecting continued high liquidity and investor interest amid mixed technical signals.