ETH drop 70% reach $1,500 as ETF outflows trigger $1B liquidation dem

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

Ethereum (ETH) slump for June 2026 — e small time trade near $1,500, about 70% down from e August 2025 peak near $4,953. After e bounce pass $1,620, traders dey wonder whether ETH don form correct bottom or e dey go $1,000. Later report add clear “risk-on” squeeze: stronger US jobs data reduce chances say Fed go cut rate quick, while rising US-Iran geopolitical tension damp market mood. Spot Bitcoin ETF outflows show like wetin dey happen for Ethereum ETFs too. Leverage make am worse: more than $1B in leveraged crypto positions liquidate, hit crowded long ETH trades and make downside quick. Technicals still be main short-term map for ETH. Article show pressure near 100-hour moving average, resistance at $1,700 and stronger barrier at $1,750 (50% Fibonacci area). Support dey around $1,620 and $1,600, with $1,500 as main floor if selling continue. Institutional exposure na another risk layer. BitMine get about $9.58B unrealized ETH losses and SharpLink get about $1.59B, though none report say dem signal forced selling. Direction still depend on Bitcoin performance and ETH/BTC ratio, so ETH traders suppose watch BTC and relative strength plus ETF flow data and macro (Fed) signals.

Bearish

ETH drawdown dey driven by overlapping negatives: macro (job data wey dey weak don reduce rate-cut expectations) and risk sentiment (US–Iran tensions), plus flow pressure (outflows from spot Bitcoin ETFs wey spill into Ethereum ETF withdrawals). Di later update still emphasize leverage—over $1B for liquidations, mainly from long ETH positions—which normally dey worsen short-term momentum. Even though rebound above $1,620 fit show small stabilization attempts, di technical setup still lean downside: ETH dey struggle near di 100-hour moving average, with overhead resistance for $1,700–$1,750 and support wey dey slowly step down toward $1,500. Until ETH/BTC relative strength improve or ETF flow data change, di path of least resistance remain bearish. Medium/long-term confidence go likely depend on whether BTC hold up and whether relative demand for ETH go strengthen versus BTC.