$ETH ETF Outflows Hit $13M: Whale Dump Triggers Price Plunge- CoinPedia Analytics

Ethereum, the second-largest cryptocurrency, recently saw its price fall by 1.8% in the past 24 hours, landing at $2,686. This decline coincided with a sharp 55% drop in Ethereum ETF trading volume, leading to an outflow of $13 million. This shift suggests changing investor sentiment and has raised concerns among market observers.

On-chain data shows that a significant Ethereum whale sold 8,825 ETH worth around $25 million at a loss, indicating caution despite some bullish projections for Ethereum. The broader cryptocurrency market has also experienced slight declines, reflecting mixed market sentiment and possibly reduced investor confidence.

Currently, Ethereum's price is stabilizing around $2,680, forming a potential base for upward movement. If Ethereum can break through resistance at $2,740, it may push higher. However, failing to do so could lead to further declines, with support levels around $2,645 and $2,600.