ETH Drops 2.31% as $224M ETF Outflows and $15M Liquidations Intensify Volatility

Ethereum (ETHUSDT) experienced a 2.31% decline over the last 24 hours, dropping from an opening price of 2920.34 to 2852.75 on Binance, driven by heightened market volatility and notable liquidations totaling $15.1 million. Significant institutional activity impacted price dynamics, including large Ethereum acquisitions by entities such as BitMine and substantial outflows from Ethereum ETFs, with one fund seeing a $221 million withdrawal and overall ETF outflows surpassing $224 million. JPMorgan's launch of a $100 million tokenized money market fund on Ethereum and notable whale accumulation provided some stabilization, but selling pressure dominated amid broader risk-off sentiment and reduced liquidity approaching the holiday period. Currently, Ethereum trades at 2852.75 USDT on Binance with a 24-hour volume of 450,053.22 ETH, reflecting persistent bearish momentum and a market capitalization of $345.69 billion.