Ethereum slides below $1,700 as ETF outflows curb market sentiment

Ethereum traded around $1,670‑$1,690 on June 23‑24, 2026, down more than 3% in 24 hours and about 4% over the week. Spot Ethereum exchange‑traded funds recorded net outflows of $66 million in one report and $82 million the next day, narrowing institutional demand. Open interest on Binance futures fell to three‑month lows, indicating weaker derivatives activity.

Technical analysis shows the price below its 200‑hour simple moving average and testing the $1,750‑$1,800 resistance zone. Analysts note that a clean break above $1,800 could trigger a move toward $2,000, while a drop back below $1,620 would restore bearish pressure. The Relative Strength Index remains under the neutral 50 level.

Institutional buying added a counterpoint: crypto‑treasury firm Bitmine Immersion Technologies purchased nearly $92 million of ETH, signaling continued confidence from large investors. Daily trading volume stayed above $12 billion, and total market value exceeded $208 billion.