ETH drops sharply within 15 minutes by 1.12%: A net outflow of $100 million from the ETF, layered with whale selling, triggers a quick sell-off plunge

From 07:00 to 08:00 UTC on June 5, 2026, ETH fluctuated in the 1633.5 to 1658.16 USDT range. It sharply dropped by 1.12% within 15 minutes, with a range of 1.49%. Price continued the recent weak pattern; market sentiment was extremely bearish, and volatility noticeably increased.

The main driver behind this move was a sharp outflow of institutional funds. Ethereum spot ETFs recorded about $100 million in net outflows over the past 24 hours, and institutional investors’ selling directly increased downward pressure from market sell orders. Meanwhile, on-chain data showed that wallets related to large holder Metalpha transferred 8,771 ETH (about $20 million) to a certain major exchange. The market interpreted this as a clear sell signal, amplifying short-term panic sentiment.

In addition, the extremely bearish market sentiment aligned with technical weakness, further reinforcing downside pressure. The Fear and Greed Index was only 12, placing it in the extreme fear zone, with 87% of market participants holding a bearish stance. Technically, the 50-day moving average is at $2,204.15, the 200-day moving average is at $2,463.84, and the price remains below the moving averages and is trending downward. The 14-day RSI is only 20.15, indicating an oversold condition. Technical traders may trigger automated selling or stop-losses based on these signals, forming a negative feedback loop. On the macroeconomic front, the persistently high-interest-rate environment continues to weigh on risk assets; ETH has already retraced more than 65% from its 2025 all-time high.

Current volatility risk is high. Going forward, key things to watch include whether ETF fund flows can stabilize, whether whales continue to reduce holdings, and how the $1,650 support level performs. It is recommended to monitor on-chain fund flows and macro policy signals, and to stay alert to the risk of further short-term downside.