ETH Slides 3.27% as Major Holder Withdraws 266,895 Tokens Amid ETF Outflow Slowdown

Ethereum (ETHUSDT) experienced a 3.27% decline over the past 24 hours, with the price dropping from 3546.31 to 3430.49 on Binance. This price decrease is attributed to increased selling pressure, as evidenced by a large transfer of 892 million USDT to Binance and subsequent withdrawal of 266,895 ETH by a major holder, alongside a reduction in the number of addresses holding over 10,000 ETH. Additionally, the lack of new inflows into Ethereum spot ETFs and a bearish technical outlook, including an RSI near oversold territory, contributed to the downward momentum.

Currently, Ethereum is trading at 3430.49 with high 24-hour trading volume and notable volatility, reflecting cautious market sentiment and active participation as traders monitor key support levels and await potential trend reversals.