ETH Token Faces 3.9% Drop Amid $2.2B Options Expiry and Rising Institutional Interest

Ethereum (ETHUSDT) experienced a 3.90% price decrease over the last 24 hours, with the current price at 3128.70 USDT. The decline follows notable institutional activity, including Morgan Stanley’s filing for a spot Ethereum ETF and significant ETH acquisitions and staking by major entities, which initially supported bullish sentiment. However, the recent expiration of over $2.2 billion in Bitcoin and Ethereum options, a dip in the Crypto Fear and Greed Index into "fear" territory, and technical analysis indicating potential for a corrective move have contributed to increased caution and consolidation in the market. Trading volume remains substantial, ranging from $22 to $25 billion in the last 24 hours, with Ethereum holding a market capitalization between $376.75 billion and $385.33 billion, reflecting robust institutional interest and ongoing volatility.