Ethereum dropped below $2,500 on Friday, declining nearly 3% as institutional withdrawals, rising exchange balances, and broader economic pressures weighed on demand. The third consecutive daily decline came alongside elevated oil prices and US Treasury yields. ETH also slipped beneath its 50-day exponential moving average, weakening its near-term technical structure. Treasury yields and Fed outlook weigh on Ethereum ETH briefly dropped to the $2,424 level on Thursday before slightly recovering to now trade around $2,490. US government bond yields climbed sharply before easing on Thursday. The 10-year Treasury yield reached a 24-year high of 5.35%, while the 30-year yield rose above 5.70%.