ETH Drops 4.91% Amid High Liquidations, Institutional Buying Surges as Oversold Signals Emerge

Ethereum (ETHUSDT) has seen intense volatility over the last 24 hours, with its price dropping 4.91% to 2932.09 USDT on Binance, attributed to a combination of internal market leverage risks and external macroeconomic uncertainty. Significant liquidations occurred as leveraged traders were forced out of positions following a rapid decline below key support levels, compounded by high trading volumes and increased market activity. Despite the turbulence, major institutional inflows and large purchases by whales have been observed, with the 24-hour trading volume on Binance reaching approximately 491,628.89 ETH and Ethereum’s market capitalization remaining near $376.81 billion. The circulating supply is around 120.70 million ETH, and technical indicators suggest the asset has entered oversold territory amid a bearish breakdown from resistance.