Quick Summary
- Ethereum plunged to approximately $1,714, representing the weakest level observed since April 2025
- Weekly losses stand at 10% with year-to-date decline exceeding 31%
- Forced liquidations totaled $408 million, with long positions accounting for $343M of losses
- ETF products experienced $52 million in net outflows on June 3, predominantly from BlackRock
- Market analyst Ali Charts cautions that downside paths toward $1,600 and $1,400 have opened
Ethereum has breached the critical $1,800 threshold, plummeting to an intraday low of $1,714 during Thursday’s trading session. This represents the weakest price point witnessed since April 2025. Currently, ETH changes hands near $1,785, registering approximately 10% losses across the previous seven days following its descent from weekly peaks above the $2,000 mark.
The extended downtrend has pushed Ethereum down 25% throughout the past 30 days and over 31% from the beginning of 2026.
Trading activity over the preceding 24-hour period reached $31.2 billion, reflecting a 15% increase compared to the previous day’s figures.
Institutional Withdrawals Intensify Selling Pressure
Institutional capital has been exiting Ethereum investment vehicles at an accelerating pace. Data from SosoValue indicates that approximately $52 million departed from Ethereum ETFs on June 3 alone. Cumulative withdrawals throughout the past month have now reached roughly $187 million.
BlackRock dominated the single-day exodus, withdrawing approximately $51 million independently. Meaningful capital inflows haven’t materialized since the beginning of last month.
The sharp price movement simultaneously sparked substantial forced closures across derivative markets. Approximately $408 million worth of leveraged positions were liquidated within a 24-hour window, impacting over 25,758 market participants globally. Bullish traders absorbed the most severe damage, forfeiting roughly $343 million, whereas bearish position holders experienced approximately $65 million in forced exits.
Market technician Ali Charts shared insights on X platform that ETH has decisively broken through the $1,825 support zone, stating: “Now the path to $1,600 and $1,400 is open.” The commentary emphasized how critical support structures have collapsed, exposing deeper price levels to potential tests.
Derivatives Metrics Reveal Excessive Bullish Positioning
Futures market intelligence from CryptoQuant reveals Ethereum’s funding rate on Binance has surged to 0.0087, reaching the most elevated level documented since early 2026. This metric suggests market participants continue establishing leveraged bullish positions, anticipating price stabilization despite persistent downward momentum.
From a chart analysis perspective, ETH currently trades beneath its 100-hour moving average benchmark. The Relative Strength Index recently penetrated below the 15 threshold, entering deeply oversold conditions, before experiencing modest recovery. Immediate resistance barriers are positioned at $1,750 and $1,800. Should these price zones maintain their resistance function, preliminary downside support emerges around $1,715, with subsequent floors located at $1,680 and $1,650.
The next substantial support foundation beneath current levels resides at $1,600.
