Ethereum (ETH) experienced a decline of 3.3%, dropping to $2,418.39 amid significant selling pressure and broader market weakness. This follows the failure to maintain support near $2,460, indicating bearish sentiment as the cryptocurrency struggled to recover past $2,430. Institutional interest has been growing, with companies like SharpLink and BitMine planning to increase their ETH holdings as part of treasury management strategies. SharpLink stated it has acquired an additional 9,468 ETH, bringing its total to 198,167 ETH, highlighting its commitment to Ethereum as a strategic reserve asset. Meanwhile, BitMine announced a $250 million private placement aimed at supporting its Ethereum treasury strategy. Despite institutional accumulation, ETH's price continues to be influenced by external factors, including political tensions in the U.S. and their impact on fiscal policy and market sentiment, leading to uncertainty around the cryptocurrency's valuation.

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