Analysis: Whale flight concerns caused market volatility, ETH briefly fell, and now the $2,500 range is volatile

The ETH price fell to $2,500 for a short period of time but then recovered, with trading volumes rising significantly around midnight, especially in the last hour, when more than 48,000 ETH were traded in two minutes, causing the price to fall below the $2,515-2,520 support range.
On-chain data shows that around 385,000 ETH have flowed into centralized exchanges such as Binance, sparking speculation in the market that institutional investors may reduce their holdings. Currently, ETH prices are oscillating in the $2,500 range, which is seen as a key psychological and technical support level. In addition, global trade tensions and the risk of US tariffs have intensified the risk aversion in the market, and the digital asset market has begun to fluctuate in sync with the traditional market.