Key facts
- Ethereum price dropped to $1,714, its lowest since April 2025.
- ETH is down 10% weekly and over 31% year-to-date.
- Ethereum ETFs experienced $52 million in outflows on June 3.
- BlackRock's ETF saw $51 million in outflows on June 3.
- Approximately $408 million in crypto positions were liquidated in 24 hours.
- Long positions accounted for $343 million of the liquidations.
Ethereum has fallen below the $1,800 level, reaching a low of $1,714, its lowest price since April 2025. The cryptocurrency is currently trading around $1,785, marking a 10% decline over the past week and a 31% decrease year-to-date. Trading volume has increased by approximately 15% in the last 24 hours. Institutional investment in Ethereum products has decreased, with Ethereum ETFs experiencing $52 million in outflows on June 3, primarily driven by BlackRock's $51 million withdrawal. Over the past month, total outflows from these ETFs have reached about $187 million. The price drop triggered significant liquidations, with around $408 million in positions forced closed within 24 hours, affecting over 25,758 traders. Long positions bore the brunt of these liquidations, totaling $343 million. Crypto analyst Ali Charts noted that Ethereum has broken past the $1,825 support level, indicating that the path to $1,600 and $1,400 is now open. Derivatives data from CryptoQuant shows Ethereum's funding rate on Binance has reached its highest level since early 2026 at 0.0087, suggesting an increase in leveraged long positions. Technically, ETH is trading below its 100-hour moving average, and the RSI has dipped into oversold territory. Key resistance levels are identified at $1,750 and $1,800, with initial downside support near $1,715, followed by $1,680, $1,650, and a major support at $1,600.