U.S.-listed spot Ethereum ETFs posted net outflows of $12.85 million on June 26, marking the seventh straight trading day of negative flows. Cumulative net inflows remain around $11 billion, but the sustained redemption streak suggests institutional demand is offering little support to ETH's price.
Whales Unload 550,000 ETH in a Week, Adding $880M Sell Pressure
Cryptocurrency analyst Ali Martinez reported that major wallets offloaded roughly 550,000 ETH in the past week, injecting an additional supply worth about $880 million at current prices. Following these large-scale sales, ETH slipped below its short-term support at $1,633 and tested a new equilibrium zone around $1,583 backed by volume. Martinez warned that if sell-offs persist, ETH could retrace toward historic demand zones near $1,237 and $1,089—areas where buyers previously stepped in during downturns.
Analysts Split: $1,000 Possible or a Buying Opportunity?
Market observer Money Ape cautioned that if risk appetite further deteriorates, ETH could even dip below the psychologically important $1,000 mark. He noted the possibility—unprecedented in Ethereum's history—of the cryptocurrency recording losses for three consecutive quarters. On the bullish side, analyst Michaël van de Poppe sees ETH prices below $1,800 as an attractive entry point for long-term accumulation. Van de Poppe highlighted potential bullish divergences forming across different timeframes that could set the stage for a future rebound.
Funding Rates Slide, Leveraged Bullish Bets Wane
CryptoQuant analyst PelinayPA noted that the buy-sell ratio on Binance remains above 1, indicating some buying appetite still lingers. However, this demand has failed to translate into a strong price push, suggesting larger players are offsetting incoming buy orders. The formation of lower highs and lower lows in ETH's price action also signals ongoing technical weakness. Meanwhile, ETH's funding rates have been trending downward since April, highlighting reduced appetite for leveraged long positions in the derivatives market.
Vitalik-Linked Wallet Moves 7,000 ETH, Market Watches Closely
A blockchain address associated with Ethereum co-founder Vitalik Buterin recently moved approximately 7,000 ETH (worth about $11.06 million) to a newly created wallet. The transaction was flagged by on-chain tracking platforms. Buterin remains a key figure guiding Ethereum's technical direction. While this transfer alone does not constitute a definitive sell signal, past large moves have sometimes preceded liquidity actions. Observers are monitoring the new wallet for any subsequent transfers to exchanges or OTC desks, which could indicate a change in intent. For now, the funds sitting in cold storage may be a routine security measure.
At present, ETH is seeking stability around $1,570, with the $1,583 support level acting as the most critical short-term threshold.