Ethereum (ETH) faces intense bearish pressure, worsened by recent whale activity. A transfer of 17,822 ETH (worth $41.27 million) to Binance signals a likely sell-off, adding to the negative market sentiment. Typically, large holders move assets to exchanges for selling, and this move may lead to further price declines.

ETH's price has dropped 4.44% in the last 24 hours, with a market cap decrease of 4.48%, now at $277.15 billion. Over the past 30 days, ETH is down 11.47%, highlighting persistent bearish trends.

The broader crypto market is also struggling, with a 2.42% decline in total market cap. Bitcoin has similarly dropped 2.32%, trading at $58,636, reflecting a challenging outlook for both Ethereum and the market.