Overview
- Ethereum has fallen under $1,700 after breaching successive supports around $1,825 and $1,800, and analysts now point to $1,600 and $1,400 as the next vulnerable zones if selling continues.
- Spot ETF flows have flipped to sustained net outflows, with multi‑day withdrawals totaling hundreds of millions of dollars and single‑day ETF redemptions reported from major products.
- Derivatives stress intensified the drop as roughly $400 million of leveraged positions were liquidated in a 24‑hour span, with long positions taking the bulk of losses and funding rates rising on major exchanges.
- On‑chain data give a mixed signal because exchange ETH balances sit near multi‑year lows while staking rates and network activity are at or near record highs, which reduces available liquid supply but has not supported prices.
- The selloff has spread to other top tokens, with XRP at four‑month lows and Bitcoin testing the $60,000 area, and investors should watch ETF flows, futures funding, whale exchange transfers, and key technical supports for signs of stabilization.