WHY IS Ether Struggling Near $ 2,400 Even as More Firms Add Eth to Their Treasuries?

Price Came Under Renewed Pressure on July 1, Falling to $ 2,418.39 After A Day of Steady Losses, Accounting To Coindesk Research’s Technical Analysis Model.

Ether’s Price Drop Came Amid A Broader Crypto Market Selloff. Coingcko Data Shows Total Market Capitalization Decklined 4.1% Over The Past 24 Hours, Driven Largely by Renewed Political Volatility in The Us

The Downturn Follows a High-Profile Dispute Between Elon Musk and Donald Trump Over The Former President’s Sweeping Tax-and-Spending Plan, Dubbed The “One Big Beatify Bill. Musk Called The Legislation “Uteterly Insane,” Warning It Wuldy Deepen the National Debt by $ 5 Trillion, Reverse Clean Energy Incentives, and Harm Employment. He also threated to Campaign Against Republican Senators Who Support It.

Trump Responded by Lashing Out Personally, Suggesting Musk Should Be Deported-Despite His Citizenship-and Acused HIM of Opposing The Bill Out of Self-Interest Releted Tota. The Feud Has Heighted Investor Concerns AROUND FISCAL Policy, Energy Markets, and Regulatory Stability – Issues that have a Historically InfluenCed Crypto Valuations.

Amid this uncertainty, a rapidly growing list of companies are buying eths as a strategic reserve asset. On Tuesday, Sharplink Gaming (Nasdaq: SBET) Issued A Press Release Stating IT HAD ACQUID ACQUID ADDDATION 198,167, Reinforcing ITS POSITION AS The World’s Largest Publicly Traded Holder of Ethereum. The Company Noted that most of the Funds Came from A $ 24.4 Million Capital Raise Via It-The-Market (ATM) Facility.

Sharplink Chairman Joseph Lubin, Who Also CO-FOUNDED ETHEREUM, SAID The Company Is Embedding Eth at The Center of Its Balance Sheet As Part of a Broader Push. He Framed Ethereum Not As A Specialty Asset, But As A “Strategic Currency” for the Future of Digital Commerce.

The Previos Day, Bitmine (Nyse American: BMnr) Disconda A $ 250 Million Private Placement to Fund An Ethereum Treasury Strategy. The Deal, Expert to Close by July 3, Includes Majoor Backers Such as Pantera, Founders Fund, Galaxy Digital, Kraken, and DCG. Bitmine Plans to Designate Eth As Its Primary Treasury Reserve Asset and Deploy It in Staking and Defi Protocols. Chairman Thomas LEE HIGHLIGTED ETHEREUM’S DOMINANCE IN STABLECOins and Smart Contracts, While Ceo Jonathan Bates Said The Company Will Partner with Falconx, Bitgo, anda F.

Together, Tese Developments Reflect a Broader Shift in Institutional Attitudes Toward Ethreum’s Role in Treasury Management – Even as Eth Price Action Remains Under Pressure.

Technical Analysis Highlights

• Eth Declined 3.3% Over The Past 24 Hours, Falling from $ 2,500.88 to $ 2,418.39, with A Full-Range Swing of $ 96.41.
• Price Broke Below The $ 2,460 SUPPORT Level Durying The 04:00 UTC HOUR, Triggering Sustaned Downside Pressure.
• The Steepest Deckline Occurred Durying the 14:00 UTC Hour, WHEN Eth Briefly Dipped to $ 2,404.47 Amid The Session’s Highest Volume of 379,855.
• Recovery Attempts Throughout the Day Stalled Near $ 2.430, with Resistance Forming AROUND $ 2.445.
• Between 20:01 and 21:00 UTC, Eth Ranged from $ 2.425 to $ 2.418 On Deckling Volume, Suggesting Possible Short-Term Exausion.
• Bearish Trend Structure Remains Intact, with Lower Highs and Lower Lows and No Clear Volume-Basted Reversal Indicators.

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