#ETHPlunges5PercentBelow1800

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**ETHEREUM FALLS BELOW 1,800 USD AS CRYPTO MARKET FACES HEAVY SELLING PRESSURE**

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The cryptocurrency market experienced a sharp downturn on June 4, with Ethereum leading the decline among major digital assets. ETH dropped more than 5 percent within 24 hours, breaking below the important 1,800 USD level and reaching a low near 1,734 USD, its weakest price in approximately three weeks.

Bitcoin also faced significant selling pressure, falling below 63,000 USD and touching a low around 62,839 USD. The broader market decline triggered widespread liquidations and raised concerns about short-term market stability.

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**MASSIVE LIQUIDATIONS SHAKE THE MARKET**

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One of the most notable developments was the scale of forced liquidations across the crypto market.

• Total liquidations exceeded 1.1 billion USD within 24 hours

• More than 160,000 traders were liquidated

• Approximately 85 percent of liquidations came from long positions

This indicates that many traders were positioned for further upside and were caught off guard by the sudden market decline.

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**MACROECONOMIC PRESSURES CONTINUE TO BUILD**

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Several external factors appear to be weighing heavily on risk assets, including cryptocurrencies.

Market expectations for Federal Reserve rate cuts have weakened significantly, reducing optimism for easier monetary conditions later this year. At the same time, rising geopolitical tensions and higher oil prices have increased uncertainty across global financial markets.

Higher Treasury yields continue to strengthen the appeal of traditional fixed-income investments, making speculative assets such as cryptocurrencies less attractive to some investors.

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**INSTITUTIONAL SENTIMENT SHOWS SIGNS OF CAUTION**

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Investor sentiment received another setback after Bitcoin spot ETFs recorded substantial net outflows. Large withdrawals from institutional products often suggest a more cautious approach toward risk assets.

Adding to market concerns, Strategy reduced its Bitcoin holdings for the first time in several years. While the transaction itself may not significantly impact overall supply, the psychological effect on market sentiment has been considerable.

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**LARGE ETH POSITION UNDER PRESSURE**

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Attention has also focused on one of the largest Ethereum long positions on Hyperliquid.

The position, consisting of approximately 120,000 ETH acquired at an average price of around 2,261 USD, has accumulated significant unrealized losses as ETH continues to decline.

To avoid liquidation, the holder reportedly added additional USDC margin, lowering the liquidation threshold and providing more room for the position to remain open during market volatility.

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**KEY ETHEREUM LEVELS TO WATCH**

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The most important support zone for Ethereum currently lies between:

• 1,700 USD and 1,720 USD

This area may determine the market's next major move. If buyers successfully defend this region, ETH could attempt a recovery. However, a decisive break below support may expose the market to further downside pressure.

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**BITCOIN'S CRITICAL SUPPORT**

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For Bitcoin, traders are closely monitoring the 63,000 USD level.

Maintaining support above this area could help stabilize overall market sentiment. A sustained move below it may encourage additional selling activity and increase volatility across the broader crypto market.

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**MARKET OUTLOOK**

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The current correction highlights how quickly sentiment can shift in cryptocurrency markets when macroeconomic uncertainty, institutional outflows, and leveraged positions collide.

While long-term investors may view sharp pullbacks as opportunities, short-term traders should remain cautious as volatility remains elevated. The coming days will be critical in determining whether key support levels can hold or if the market enters a deeper corrective phase.

What are your thoughts on Ethereum's recent decline? Is this a temporary correction or the beginning of a larger market pullback?
‍$ETH$ETH