The price of Ethereum (ETH) experienced a 16% dip to $2,100 after initially rallying on the news that it would be included in the proposed US Crypto Strategic Reserve. Short-term traders took profits, causing the market sentiment to become uncertain. The dip in price was seen across all assets included in the reserve. Despite the setback, the announcement by US President Donald Trump is expected to enhance the global appeal of the crypto market, particularly Ethereum. Additionally, a recent leadership shuffle at the Ethereum Foundation could potentially help the project regain its momentum. Bears capitalized on the market dip, deploying $1.8 billion worth of short leverage, indicating a dominant bearish sentiment. The price of Ethereum remains under bearish pressure, with sellers potentially setting up for prolonged consolidation below $2,400. If downward momentum continues, the next support level is at $2,066. The buying interest is waning, suggesting capital outflows and confirming aggressive selling pressure. However, a resurgence above $2,489 could shift sentiment and invalidate the bearish outlook. Until then, Ethereum remains susceptible to further declines.



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