ETH drops sharply in 15 minutes by 0.74%: ETF fund outflows continue, and selling pressure is triggered as technical support levels are tested

From 01:15 to 01:30 (UTC) on June 4, 2026, ETH/USDT fell 0.74% within 15 minutes. The price dropped from 1,787.76 USDT to 1,765.29 USDT, with a swing of 1.26%. This move occurred against the backdrop of ETH continuing its downtrend since May. In early June, overall market sentiment was weak and volatility rose significantly.

The main driver of this move was net outflows of $401.62 million from the U.S. spot ETH ETFs in May, the third-largest monthly net outflow since the end of 2025. Continued institutional fund outflows created accumulated sell pressure, directly dragging down short-term prices. At the same time, as the price approached the key technical support level of $1,964, some technical sell orders were triggered, further increasing short-term selling pressure.

Second, June is historically a weaker month for ETH. In the past 10 years, 7 years had negative returns, with an average return of -6.74%. Seasonal expectations of sell pressure led some capital to act early. In addition, some institutional investors transferred ETH to exchanges, which was interpreted as a potential sell signal. Doubts about Ethereum’s competitive position further weakened risk appetite. Although on-chain data shows that whales and long-term holders kept adding during the downturn, short-term prices were still dominated by fund outflows and technical factors.

Going forward, the key focus is whether ETF fund flows continue to see outflows, and how well the $1,964 and $1,798 key support levels are defended. Short-term volatility risk remains. It is recommended to monitor on-chain fund flows and macro news developments.