ETH Slides 2.59% Amid $45.4M BlackRock ETF Outflow and High Derivatives Liquidations

Ethereum (ETHUSDT) experienced a price decline of 2.59% over the past 24 hours, opening at 1873.92 and currently trading at 1825.47 on Binance. The primary drivers of this downturn are significant market volatility and macroeconomic pressures, including broader cryptocurrency sell-offs and concerns over potential US tariffs impacting global markets. Increased derivatives liquidations, particularly of leveraged long positions totaling over $8 million, have added to the selling pressure, while spot ETF net outflows—most notably a $45.4 million withdrawal by BlackRock—further contributed to negative sentiment. Trading volume remains high, exceeding $24 billion in the last 24 hours, indicating active market participation. Ethereum's market capitalization is around $220.92 billion, solidifying its rank as the second-largest cryptocurrency, with the current price range reflecting heightened volatility and recent underperformance relative to the wider market.