ETH drops sharply in 15 minutes by 1.52%: U.S. stocks plunge and the VIX spikes in sync, triggering short-term selloff

From 18:15 to 18:30 (UTC) on June 5, 2026, ETH sharply fell by 1.52% within 15 minutes, trading between 1563.5 and 1590.24 USDT, with a swing of 1.68%. This sudden short-term drop continued the broader downward trend seen earlier in the day, as panic spread across the market and volatility surged significantly.

The main driver behind this abnormal move was the transmission of macro market risk. On June 5, the U.S. stock market saw a sharp decline: the Nasdaq Composite fell by 3%, while Tesla was down more than 5% during the day. At the same time, the VIX fear index jumped by 3.32 points to 18.72, a two-week high, reflecting a rapid rise in the market’s expectations for future volatility. As a highly volatile risk asset, cryptocurrencies were unable to escape the systematic sell-off wave triggered by the plunge in U.S. stocks, and risk-on capital withdrew at large scale.

Technical breakdowns further amplified selling pressure. On June 5, ETH confirmed a second consecutive trading day of TBO breakdown, falling below the key support level at $1747, the low from February 6. Weekly RSI is in the oversold zone (below 25), and a negative feedback loop was triggered by algorithmic trading and stop-loss sell orders. In addition, the dominance of stablecoins continued to rise: the ETH/BTC ratio weakened, indicating that capital is moving from high-risk crypto assets into stablecoins or into relatively stronger BTC. Geopolitical risks are also compounding the situation, as tensions in the Middle East escalated, increasing market uncertainty.

The current market is in extreme fear, with the Fear & Greed Index at 16. Key items to watch include whether the $1747 support holds, whether the macro U.S. stock market stabilizes, and whether the VIX index continues to spike. Short-term volatility risk is high; it is recommended to closely monitor on-chain capital flows and macro news, and to做好 risk management.