Ethereum Under Pressure as Spot ETF Outflows Hit 17-Day Record Streak

Ethereum is facing intense selling pressure driven by a collapse in institutional demand, with buying interest plunging 80% as spot ETFs record a 17-session streak of outflows. According to reports, this institutional retreat has triggered a 10% price decline over the past week, exacerbated by a spike in long-position liquidations. These developments heighten concerns regarding the asset's ability to maintain current support levels in the absence of major buying catalysts.

This downturn reflects a broader risk-off sentiment across the cryptocurrency sector, with altcoins retreating as Bitcoin remains capped below the $68,000 mark per market data. Compared to traditional assets, Ethereum is showing relative weakness against gold and blue-chip equities, which had stabilized following the U.S. Core PCE data showing a 0.2% increase in May. Analysts note that the persistent ETF outflows create a unique headwind for Ethereum compared to peers like XRP, which continues to trade below $1.18.

Technically, Ethereum stood at $1,785.40 (close June 4, 2026), keeping the focus on the $1,380 support level if the outflow trend persists. Investors should closely monitor Fed official Kashkari’s speech scheduled for later today, as his stance on interest rates could dictate risk appetite and future flows into digital asset funds. Additionally, the market is eyeing tomorrow's U.S. jobless claims on the economic calendar for further clues on dollar strength and macroeconomic stability.