Key Takeaways
- ETH plunged to approximately $1,714, representing its weakest level since April 2025
- Weekly losses exceed 10% while year-to-date performance shows a decline of over 31%
- Market-wide liquidations reached $408 million, with long positions accounting for $343M
- Institutional investors withdrew $52 million from Ethereum ETFs on June 3, primarily through BlackRock
- Technical analyst Ali Charts suggests downside targets of $1,600 and $1,400 are now exposed
Ethereum has breached the psychologically important $1,800 threshold, plummeting to an intraday low of $1,714 on Thursday. This represents the cryptocurrency’s weakest performance since April 2025. Current trading data shows ETH hovering near $1,785, reflecting approximately a 10% decline across the past seven days following its retreat from weekly highs above the $2,000 mark.
The sustained downward momentum has resulted in a 25% monthly decline and extends Ethereum’s year-to-date losses beyond 31% as we progress through 2026.
Market activity remains elevated with 24-hour trading volume reaching $31.2 billion, representing a 15% increase compared to the previous day’s figures.
Institutional Capital Flight Intensifies Selling Pressure
Institutional participants have been steadily withdrawing from Ethereum investment vehicles. Data from SosoValue indicates approximately $52 million exited Ethereum ETFs on June 3 alone. Cumulative monthly outflows have now accumulated to roughly $187 million.
BlackRock emerged as the dominant force behind that specific day’s exodus, responsible for approximately $51 million of the total withdrawal. Notable inflows have been virtually nonexistent since the beginning of last month.
The price collapse sparked a significant cascade of forced position closures. Approximately $408 million worth of leveraged positions were liquidated within a 24-hour window, impacting over 25,758 traders across global exchanges. Long position holders absorbed the majority of losses at approximately $343 million, while short sellers faced roughly $65 million in liquidations.
Market analyst Ali Charts shared insights on X platform, noting that ETH has decisively broken through the $1,825 support zone, stating: “Now the path to $1,600 and $1,400 is open.” The analysis emphasized how critical support structures have collapsed, exposing lower price targets.
Perpetual Futures Data Reveals Excessive Bullish Positioning
On-chain analytics platform CryptoQuant reveals that Ethereum’s funding rate on Binance has surged to 0.0087, reaching its most elevated reading since the beginning of 2026. This metric suggests traders continue accumulating leveraged long exposure, anticipating a price reversal despite ongoing bearish market conditions.
From a technical perspective, ETH currently trades beneath its 100-hour moving average. The Relative Strength Index recently penetrated below the 15 threshold, entering deeply oversold conditions, before staging a modest recovery. Critical resistance zones are established at $1,750 and $1,800. Should these levels prove insurmountable, immediate downside targets include $1,715, with subsequent support layers at $1,680 and $1,650.
The next significant technical support floor is positioned at the $1,600 level.
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