Ethereum spot ETFs recorded seventh consecutive day of outflows totaling $12.85 million

Ethereum traded in a tight range between $1,570 and $1,580 during the final days of June 2026, as overall activity remained muted in the broader financial markets. Despite the calm atmosphere, the price of ETH has struggled to gain upward momentum, with the $1,800 threshold being closely watched as a key level for confirming any sustained recovery.

ETF redemptions and large-scale wallet sales intensify pressure

U.S.-based spot Ethereum ETFs saw net outflows of $12.85 million on June 26. This marked the seventh consecutive trading day of negative flows for these funds. Although total cumulative inflows remain around $11 billion, the latest round of redemptions underscores that institutional demand has recently provided little support for ETH prices.

Cryptocurrency analyst Ali Martinez reported that major wallets offloaded roughly 550,000 ETH in the past week, injecting an additional supply worth around $880 million at current prices. Following these large-scale sales, ETH slipped below its short-term support at $1,633, testing a new equilibrium zone around $1,583 backed by trading volume.

Martinez added that if these sell-offs persist, ETH could retrace toward historic demand zones seen around $1,237 and $1,089—areas where buyers stepped in during earlier downturns.

Analysts hold diverging outlooks

Market observer Money Ape cautioned that if risk appetite further deteriorates, ETH could even dip below the psychologically important $1,000 mark. He pointed out the possibility—unprecedented in Ethereum’s history—of the cryptocurrency recording losses for three consecutive quarters.

Conversely, analyst Michaël van de Poppe sees ETH prices below $1,800 as an attractive entry point for long-term accumulation. Van de Poppe highlighted the emergence of potential bullish divergences across different timeframes that could lay the groundwork for a future rebound.

Market data and on-chain movements under close watch

CryptoQuant analyst PelinayPA noted that the buy-sell ratio on Binance remains above 1, suggesting that some buying appetite still lingers. Nonetheless, the fact this demand has yet to translate into a strong price push indicates that larger players are offsetting incoming buy orders. The formation of lower highs and new lows in ETH’s price action also signals ongoing technical weakness.

Mini glossary: Funding rate is a periodic fee mechanism in the derivatives markets designed to keep long and short positions balanced. A declining funding rate may indicate waning interest in leveraged long positions.

Indeed, ETH’s funding rates have been trending downward since April, highlighting reduced appetite for leveraged bullish bets in the derivatives markets.

Buterin-linked transfer captures attention

Recently, a blockchain address associated with Ethereum co-founder Vitalik Buterin 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 in guiding both Ethereum’s technical development and the overall ecosystem.

This transfer alone does not constitute a definitive sell signal. However, as similar large moves have sometimes preceded liquidity actions in the past, observers are closely monitoring subsequent transactions from the newly established wallet. If the funds remain in cold storage, it may signal routine security measures, while transfers to centralized exchanges or over-the-counter desks could be interpreted differently.

At present, ETH continues to seek stability around $1,570, with the $1,583 support level standing out as the most crucial short-term threshold.

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