Ethereum (ETH) is under pressure as it trades around $1,592, following a 1.6% drop over the past 24 hours. The price decline is attributed to significant sell-offs by major investment firms and continued outflows from Ethereum-based ETFs.
📊 Market Overview
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Current Price: ~$1,592
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24-Hour Range: $1,559.77 – $1,625.30
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Market Cap: Approximately $191 billion
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24-Hour Trading Volume: ~$12.7 billion
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Year-to-Date High: $2,009.19 (March 26, 2025)
🧱 On-Chain Activity & Institutional Moves
In the past 24 hours, three major investment firms—Polychain Capital, Galaxy Digital, and B2C2—have collectively moved over $40 million worth of ETH to centralized exchanges. This activity suggests potential liquidation or reallocation strategies by these firms.
Additionally, Ethereum-based ETFs have experienced $14 million in outflows on April 15, bringing the total net losses to $158 million over the past month.
📈 Technical Analysis
Ethereum’s price has fallen below the critical support level of $1,600, with immediate support now at $1,555. If this level fails to hold, further declines could test the $1,450 mark.
Despite the bearish trend, some analysts see potential for a bullish reversal. Ethereum is attempting to break out of a descending price channel, and a successful move above $1,600 could pave the way for a rally towards $3,000.
🏛️ Institutional Interest
BlackRock’s BUIDL token fund, which primarily invests in Ethereum, has seen a 364.65% increase in assets under management year-to-date. This surge indicates strong institutional interest in Ethereum, despite recent price volatility.
