Ethereum Price Drops Amid Whale Accumulation and ETF Inflows

Ethereum's price has dropped by 3.6% in the last 24 hours, trading near $1,823 at the time of writing.

A significant whale accumulated 89,396 ETH worth approximately $164.88 million over three days, with two newly created wallets withdrawing 20,000 ETH from Coinbase Prime in two batches of 10,000 ETH, valued at $37.72 million.

CryptoQuant's Spot Average Order Size confirmed large whale orders for seven consecutive days, but the data captured both buying and selling activity, indicating a lack of clear direction.

The US spot ETH ETFs saw net inflows of $68 million from Monday to Thursday, while exchange reserves dropped by 253,000 ETH since July 5, suggesting investors are moving coins to self-custody.