Ethereum Price Faces Drop Amidst Institutional Sell-Off: Over $117 Million Moved to Exchanges

Despite a recent rally, Ethereum’s price experienced a decline below the critical $1,800 support level, dropping to its 24-hour low of $1,751.33. A significant transfer of over 65,000 ETH worth over $117 million from prominent whales to centralized exchanges has fueled concerns about sell pressure and investor skepticism surrounding the Pectra upgrade. This move follows the postponement of the upgrade from March to May 7th, adding further uncertainty to the market.