ETH Price Slides 3.45% as $768M Options Expire, Whale Accumulation Counters Bearish Signals

Ethereum (ETHUSDT) experienced a 3.45% price decline over the past 24 hours, primarily driven by increased market volatility surrounding the expiration of $768 million in ETH options on Deribit, with the max pain point at $3,100. Additionally, recent U.S. Federal Reserve policy expectations have contributed to price fluctuations. Technical indicators point to a bearish rising wedge pattern and weaker volume on recent price rallies, raising the risk of a near-term correction. Despite this, substantial accumulation by whales—including notable purchases by large holders and entities like BitMine—has offered support during price dips, reflecting ongoing investor confidence. As of the latest Binance data, ETHUSDT trades at $3,110.45 with a 24-hour trading volume exceeding $1.15 billion, and a total market capitalization around $375.24 billion. The market remains at a pivotal level as accumulation activity and regulatory developments offset technical bearishness.