ETH drops sharply 0.71% in 15 minutes: technical selling pressure easing and ETF outflows converge

2026-06-18 15:35:15

ETH-5.09%

BTC-5.07%

From 15:15 to 15:30 UTC on June 18, 2026, ETH fell 0.71% within 15 minutes. The price range was 1718.0 to 1734.61 USDT, with a swing of 0.96%. The overall intraday decline reached 2.45%, closing at 1719.68 USDT. Short-term volatility has clearly intensified. The main driver behind this move was the release of technical-side selling pressure. As ETH approached the $1800 to $1850 key support zone, automated sell orders and stop-loss orders were triggered, compounded by structural pressure from ETFs that have seen net outflows for 15 consecutive trading days.In addition, thin weekend liquidity further amplified price volatility. Cryptocurrency market trading liquidity is typically lower than on weekdays; even a small number of sell orders can cause large price swings. Another important secondary factor is changes in whale holdings—more than 60 whale wallets holding over 10,000 ETH reduced their positions before the June price drop. With reduced order-book buyer depth, the price became more sensitive to sell-side orders. After Bitcoin broke below $70,000 in early June, total crypto market liquidations were close to $1 billion within 24 hours, showing 80% to 90% price correlation with ETH.From a longer-term perspective, ETH is down 62% from its all-time high and is currently in a confirmed downtrend. In May alone, monthly ETF net outflows reached $401 million. In 2026, 9 senior core team members of the Ethereum Foundation left their roles. In April, KelpDAO and Drift Protocol suffered a hacking incident that caused about $580 million in losses. Together, these factors have weakened market confidence. In the derivatives market, 79% of positioning is bearish, and the Fear & Greed Index is in the fear zone at 29.Current key support is in the $1800 to $1850 region. If it breaks, it will open further downside room; downside support to watch is the $1600 to $1650 range. It’s necessary to closely monitor whether ETF fund flows reverse, whether Bitcoin can stabilize, and subsequent personnel developments at the Ethereum Foundation.

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