Ethereum price dips amid large whale ETH transfers and ETF outflows, eyeing $3,000 resistance level.

Ethereum's price fell from $2,423 to around $2,290 following large transfers of 244,000 ETH to Binance by a major whale, creating selling pressure. US spot Ethereum ETFs saw $103.5 million in withdrawals, reversing a recent inflow trend, while Bitcoin ETFs also experienced outflows. Institutional investors have favored Bitcoin over Ethereum since February, with Ethereum holdings declining by 127,000 ETH. Despite this, some accumulation continues, such as an address linked to Erik Voorhees buying nearly 3,000 ETH. Technically, Ethereum remains range-bound between $2,197 and $2,389, with potential for a rally to $3,000 if it breaks above resistance.