ETH Slides 3.35% as Whale Selling Counters BlackRock’s $70M Buy and Institutional ETF Interest

Ethereum (ETH) is currently trading at $2,525.80 on Binance, with a 24-hour trading volume exceeding $25 billion and a 3.35% price decline from the previous day’s open of $2,613.23; the circulating supply stands at approximately 120.7 million ETH and market capitalization ranges between $312 and $322 billion depending on the source. The recent price decrease is primarily attributed to heightened volatility following BlackRock’s $70.2 million ETH purchase, which initially drove prices up by 4.2%, and subsequent large-scale whale selling activity, including a notable 1,290 ETH sale for $3.23 million. Additional factors influencing the decline include bearish technical signals (such as a 4-hour RSI of 42 and a MACD bearish crossover), increased exchange inflows, and weak breakout momentum, despite institutional interest and regulatory developments regarding staking mechanisms in U.S. Ethereum ETFs.