ETH Price Slides 4.78% as Institutional Sales and ETF Outflows Drive $224 Million Impact

Ethereum (ETHUSDT) experienced a price decline of 4.78% over the past 24 hours, with the current price at $2,813.50 on Binance. This movement is attributed to large institutional transactions, including the sale of 14,000 ETH on various platforms, significant outflows from Ethereum ETFs totaling $224 million, and heightened market volatility following recent U.S. jobs data and global liquidity changes. Additional market pressure stemmed from concerns about potential interest rate hikes in Japan, leading to broader risk-off sentiment. Trading volume remains robust, with Binance reporting a 24-hour volume of 1.41 billion USDT, while Ethereum maintains its position as the second-largest cryptocurrency with a market capitalization around $342 billion.