Ethereum Drops Below $2,500 Amid Surge in ETF Outflows, Highest for June So Far

Ether (ETH) bounced higher on Saturday after enduring a turbulent week marked by heavy selling pressure and significant institutional outflows. The cryptocurrency ended near $2,445, signaling some resilience even as ETF data revealed the steepest single-day withdrawals of the month.

On Friday, June 20, U.S.-listed spot ETH ETFs saw $11.3 million in net outflows, the biggest daily decline in June so far, per data from Farside Investors. The bulk of the exit came from BlackRock’s ETHA ETF, which lost $19.7 million—its first negative flow of the month.

Meanwhile, Grayscale’s ETHE fund attracted $6.6 million, and VanEck’s ETHV ETF added $1.8 million, softening the blow from the broader pullback. No other issuers recorded notable inflows or outflows. The mixed flows suggest that while some institutional players are reducing exposure, others remain committed to Ether’s long-term outlook.

Alongside the ETF turbulence, ETH experienced sharp price swings. On Friday, Ether fell as low as $2,372.85 during a sudden sell-off, with trading volume spiking to nearly five times its usual daily average. Buyers, however, stepped in around the $2,420–$2,430 zone, establishing a solid support level that’s since held firm through multiple low-volume retests, hinting at possible accumulation.

Trading activity surged overall, with Ether’s 24-hour volume climbing 18.97% above its 7-day average, signaling heightened market engagement as prices stabilized. ETH has carved out an ascending trendline of higher lows, although resistance remains strong between $2,480 and $2,500.

Technical Snapshot

• Over the past 24 hours, ETH-USD traded in a $186.44 range (7.25%), bottoming at $2,372.85 amid intense selling.
• The sharp decline occurred during the 17:00 UTC hour, accompanied by a volume surge to 993,622 units—nearly five times the daily norm.
• A support zone has solidified between $2,420 and $2,430, confirmed by repeated low-volume retests.
• Ether reclaimed 38.2% of its Fibonacci retracement from the sharp drop, forming an upward-sloping trendline.
• During the 08:00–09:00 UTC window, buying momentum pushed prices near $2,445.
• In the final trading hour, ETH traded in a narrow $5.83 band, from $2,440.14 to a close of $2,443.45.
• A brief rally peaked at $2,447.02 around 11:38 UTC, with an intra-candle burst of 4,532 units in volume.
• After a minor dip, ETH found fresh support at $2,439.38, maintaining its short-term bullish trajectory.

Despite volatility and significant ETF outflows, Ether’s ability to defend critical support levels suggests that traders and institutions alike remain cautiously optimistic about further upside potential.