Ethereum (ETH) skidded to a 14-week low near $1,814 as spot ETH ETFs bled cash for 16 straight sessions, dragging the $1,800 support zone under fresh strain.
Key Points:
- ETH slipped to a 14-week low near $1,814, pulling the $1,800 support zone into focus.
- U.S. spot ETH ETFs logged 16 straight sessions of outflows worth roughly $847 million.
- Weekly digital-asset funds shed $1.67 billion, with $257 million leaving Ethereum products.
Ethereum ETF Outflows Deepen
ETH touched $1,814 on Jun. 3, its weakest mark since early February, then drifted lower through the month. A slumping Coinbase premium pointed to thin US demand, and long-term holders kept trimming positions into the slide.
Spot ETH funds have now drained close to $847 million across 16 consecutive sessions. The streak stripped out a source of demand that had cushioned earlier dips. Each redemption forces underlying sales into a market already short on buyers.
The bleed ran wider than ETFs, as weekly digital-asset products shed $1.67 billion in late May, a third straight week of redemptions that pulled $257 million from Ethereum vehicles. Cumulative outflows over those three weeks reached $4.21 billion, and total assets slid to $141 billion, the lowest since early April.
Also Read: Elon Musk's SpaceX Wipes Out $600B As Record IPO Mania Cools
Analysts Watch ETH Support
Traders are fixed on the round number. Analyst Ted Pillows called $1,800 "the last support zone for Ethereum before new lows." CrypDoMillions placed the next floor at $1,600, while BitFrog judged the level shaky.
Bitcoin (BTC) funds bore the brunt elsewhere, with a record weekly outflow that dwarfed Ethereum's. The risk-off mood spread across crypto as firmer rate expectations drained appetite for higher-risk bets, and ETH, denied staking yield inside US spot funds, absorbs the full drawdown.
Momentum offered no relief. The daily RSI held under 45 and the MACD histogram stayed negative, gauges that showed no shift in trend. Large wallets did scoop roughly 32,000 ETH, and a $22.5 million inflow recently snapped a four-day ETF losing run, while nearly 500,000 ETH left exchanges in one week.
The drop caps a bruising spring for ETH. The token has erased most of its April and May rebound after sellers cracked the $2,000 level, and it has since slipped under $1,750, far below the ground it held entering the quarter.
Read Next: OpenAI Snags Gemini Co-Lead And Trump's AI Aide Pre-IPO
