ETH Price Slides 4.58% Amid $582M Liquidations and $224.8M ETF Outflows, Market Volatility Rises

Ethereum (ETHUSDT) experienced a 4.58% price decline over the past 24 hours, opening at 2949.32 and currently trading at 2814.28 on Binance. This movement is largely attributed to substantial Ethereum liquidations totaling $582 million, outflows from spot and futures ETFs amounting to $224.8 million, and notable transfers of approximately 68,930 ETH to Coinbase Prime, all contributing to increased selling pressure. The market is exhibiting significant volatility, with a 24-hour high of 3030.92 and low of 2833.94, and trading volume on Binance reaching 1.32 billion USDT. Despite short-term bearish sentiment and consolidation below key resistance levels, Ethereum maintains strong fundamentals with a market cap of around $345.69 billion, 60% stablecoin market share, and $89 billion in DeFi total value locked.