ETH drops 70% to $1,500 as ETF outflows fuel $1B liquidations

Published: 2026-06-08 07:59:06 |

Ethereum (ETH) slumped in June 2026, briefly trading near $1,500—around 70% below its August 2025 peak near $4,953. After a bounce above $1,620, traders are weighing whether ETH has formed a durable bottom or is heading toward $1,000. The later report adds a clearer “risk-on” squeeze: stronger U.S. employment data reduced expectations for an imminent Fed rate cut, while heightened U.S.-Iran geopolitical tensions weighed on sentiment. Spot Bitcoin ETF outflows were described as mirrored by withdrawals from Ethereum ETFs. Leverage then amplified the move: more than $1B in leveraged crypto positions were liquidated, hitting crowded long ETH trades and accelerating downside. Technicals remain the key near-term map for ETH. The article flags pressure near the 100-hour moving average, with resistance at $1,700 and a stronger barrier at $1,750 (50% Fibonacci area). Support is centered around $1,620 and $1,600, with $1,500 framed as the main floor if selling continues. Institutional exposure is another risk layer. BitMine is cited with about $9.58B in unrealized ETH losses and SharpLink with about $1.59B, though neither reportedly signaled forced selling. Direction is still expected to hinge on Bitcoin performance and the ETH/BTC ratio, meaning ETH traders should track BTC and relative strength alongside ETF flow data and macro (Fed) signals.

Bearish

ETH’s drawdown is being driven by overlapping negatives: macro (job data weakening rate-cut expectations) and risk sentiment (U.S.-Iran tensions), plus flow pressure (outflows from spot Bitcoin ETFs spilling into Ethereum ETF withdrawals). The later update also emphasizes leverage—over $1B in liquidations, mainly from long ETH positions—which typically worsens short-term momentum. While a rebound above $1,620 suggests some stabilization attempts, the technical setup still leans downside: ETH is struggling near the 100-hour moving average, with overhead resistance at $1,700–$1,750 and support only gradually stepping down toward $1,500. Until ETH/BTC relative strength improves or ETF flow data turns, the path of least resistance remains bearish. Medium/longer-term confidence will likely depend on whether BTC holds up and whether relative demand for ETH strengthens versus BTC.