ETH Slides 3.19% as $237M Whale Transfer and Short Surge Offset ETF Inflows

Ethereum (ETHUSDT) is currently trading at $2,408.05 on Binance, reflecting a 3.19% decline over the past 24 hours. This price drop is primarily attributed to a combination of factors: despite ongoing positive inflows into spot Ethereum ETFs for seven consecutive weeks and increased institutional accumulation, ETH has faced selling pressure from large holders, as evidenced by a recent $237 million transfer to exchanges. Additionally, negative market sentiment has been influenced by a high level of short positions on the CME and broader geopolitical tensions, which have outweighed bullish catalysts and contributed to the recent liquidations totaling $62.61 million.

In the last 24 hours, Ethereum’s trading volume ranged between $13.89 billion and $15.97 billion, with its market capitalization estimated at approximately $290.5 billion. The price has fluctuated between $2,400 and $2,522, with the current trend showing consolidation amid mixed technical signals and ongoing institutional interest.