Ethereum fell below $2,400 on Sept. 2, reaching $2,356 and settling near $2,372, a 5.5% correction from its recent peak around $2,510. ETH futures liquidations reached approximately $94.2 million over 24 hours, with open interest at $32.48 billion and futures volume at $54.43 billion. Tensions involving the United States and Iran pushed oil toward $95 a barrel, lifted the 10-year Treasury yield above 4.8% and strengthened the dollar, pressuring speculative assets. Two previously dormant wallets withdrew $126.25 million in ETH from FalconX and BitGo, prompting speculation about possible links to BitMine and chairman Tom Lee without establishing a definitive connection. Ted Pillows identified the 50-week EMA as a key level, with a hold opening a possible move toward $2,500-$2,550 and a break raising the risk of $2,200. Michaël van de Poppe highlighted $2,355, $2,300 and $2,200 as downside levels to monitor. ETH remained above several major moving averages, while momentum indicators weakened.