ETH Slides 5.4% as $41.74M ETF Outflows and Leverage Shorts Trigger Volatile Consolidation

Ethereum (ETHUSDT) declined by 5.40% in the last 24 hours, opening at 2961.66 and currently trading at 2801.59 on Binance. The price drop was influenced by net outflows of $41.74 million from spot Ethereum ETFs and a notable $6.44 million short position opened with 25x leverage, alongside broader market volatility and an overall 14.90% weekly decrease. Increased trading volume—up 59.40% to over $16.5 billion—reflects heightened market activity, with significant whale transactions and technical signals indicating continued consolidation and caution among traders. Ethereum remains the second-largest cryptocurrency, with a market cap of approximately $340.66 billion and a circulating supply near 120.69 million ETH.