Key Highlights
- Ethereum fell to approximately $1,714, marking its weakest level since April 2025
- Weekly decline reaches 10%, with year-to-date losses exceeding 31%
- Liquidations totaling $408 million impacted traders, with long positions bearing $343M in losses
- Institutional Ethereum ETFs recorded $52 million in net outflows on June 3, primarily from BlackRock
- Market analyst Ali Charts indicates potential downside targets at $1,600 and $1,400
Ethereum has breached critical support, plunging beneath the $1,800 threshold to reach $1,714 on Thursday—a price level not seen since April 2025. Currently, ETH trades near $1,785, representing a significant 10% weekly decline after retreating from highs above $2,000 earlier in the week.
The extended selloff has pushed Ethereum down 25% over the trailing 30-day period and more than 31% throughout 2026 year-to-date.
Recent trading activity shows volume climbing to $31.2 billion across the last 24-hour window, representing a 15% increase compared to the previous session.
Institutional Withdrawals Intensify Selling Pressure
Institutional capital has been steadily exiting Ethereum investment vehicles. Data from SosoValue reveals that Ethereum ETFs experienced approximately $52 million in net withdrawals on June 3 alone. Monthly outflows have now accumulated to roughly $187 million.
BlackRock spearheaded the exodus, withdrawing approximately $51 million in a single trading session. Significant inflows have been noticeably absent since the beginning of last month.
The sharp price movement sparked widespread liquidations across derivatives markets. Roughly $408 million in leveraged positions were forcibly closed within a 24-hour span, impacting over 25,758 traders globally. Long position holders absorbed the majority of damages, accounting for approximately $343 million in losses, while short sellers faced around $65 million in liquidations.
Cryptocurrency market analyst Ali Charts shared on X that Ethereum has decisively broken through the $1,825 support threshold, stating: “Now the path to $1,600 and $1,400 is open.” The analysis emphasized how critical technical support has collapsed, exposing deeper price levels to potential testing.
Derivatives Metrics Reveal Elevated Long Positioning
Futures market data compiled by CryptoQuant indicates Ethereum’s funding rate on Binance has surged to 0.0087, reaching its highest reading since early 2026. This elevated metric suggests traders continue accumulating leveraged long positions, anticipating a price reversal despite persistent downward pressure.
From a technical perspective, ETH currently trades beneath its 100-hour simple moving average. The Relative Strength Index recently plunged below 15, entering deeply oversold conditions, before staging a modest recovery. Critical resistance barriers are positioned at $1,750 and $1,800. Should these levels continue to repel upward attempts, immediate downside targets emerge at $1,715, with subsequent support zones at $1,680 and $1,650.
The most significant technical support below current levels resides at $1,600.
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