Ethereum has remained pinned near the $1,500 support zone after quarter-end selling, whale distribution, and weak institutional flows kept the second-largest cryptocurrency under pressure despite continued corporate treasury accumulation.
Summary
- Ethereum has logged its first-ever third straight quarterly loss as quarter-end selling keeps ETH near $1,500 support.
- SharpLink and Bitmine expanded their ETH treasuries, but whale selling and ETF outflows continue to weigh on price.
- Analysts say reclaiming $1,700 is key, while losing $1,500 could expose ETH to another leg lower.
According to data from crypto.news, Ethereum (ETH) traded around $1,580 at the time of writing, down roughly 5.3% over the past seven days and about 25% for the quarter. The decline completed Ethereum’s first-ever streak of three consecutive quarterly losses.
Selling pressure also intensified after the Ethereum Foundation announced a restructuring on June 23 that included a 20% workforce reduction and a 40% budget cut, raising fresh concerns about development spending while large holders continued reducing exposure.
Corporate buyers, however, have continued to accumulate into the weakness. SharpLink disclosed another purchase of 10,000 ETH at an average price of $1,611, spending about $16.1 million to expand its treasury. Separately, Bitmine added 27,084 ETH during the past week, lifting its holdings above 5.7 million ETH. Those purchases have so far failed to offset persistent selling from whales and institutional investors.
Bitmine, however, framed the quarter-end weakness as partly technical rather than purely fundamental. In a June 30 post on X, the company said “window dressing is taking place,” adding that institutions often sell underperforming assets toward the end of a quarter. Bitmine noted that Bitcoin was down 13% and Ethereum was down 25% for the quarter, saying crypto was “being sold” into the reporting period.
On-chain activity has remained mixed. According to Ali Martinez, Ethereum whales sold roughly 550,000 ETH over the past week, adding substantial supply to the market. Lookonchain separately reported that one whale exited a 2,468 ETH position after holding it for more than five months, realizing a loss of about $4.33 million after selling near $1,572.
FG Nexus has also struggled with its Ethereum treasury strategy. According to Lookonchain, the company has realized about $86.6 million in losses after buying ETH near the 2025 highs and later selling at much lower prices.
Meanwhile, institutional demand has yet to recover. Spot Ether ETFs have recorded approximately $274 million in cumulative net outflows across consecutive sessions without posting a single day of positive inflows. At the same time, capital has continued flowing into U.S. artificial intelligence stocks and the recently launched SpaceX IPO, leaving fewer buyers available to absorb Ethereum’s selling pressure.
Technical structure leaves Ethereum trapped between $1,500 and $1,650
Ethereum’s daily chart continues to trade below a descending trendline that has capped every recovery attempt since May. The asset also remains below the daily Supertrend resistance near $1,644, while the 78.6% Fibonacci retracement around $1,695 forms the next major resistance level should buyers regain control.
Momentum indicators have yet to confirm a reversal. The daily RSI remains near 36, keeping Ethereum in bearish territory despite stabilizing above recent lows. MACD has begun flattening after weeks of decline but has not produced a decisive bullish crossover. On the 4-hour chart, Chaikin Money Flow has climbed back above zero, suggesting buyers have started returning, although the recovery remains limited while price stays below key resistance.
Derivatives positioning also presents a mixed picture. CoinGlass liquidation data shows the largest short liquidation cluster sitting around $1,590-$1,600, while a much larger concentration of long liquidations has built between roughly $1,530 and $1,545. A break above the upper cluster could trigger a short squeeze toward the $1,640-$1,700 region, whereas losing the lower liquidity pocket could accelerate selling into the psychological $1,500 support.
Commenting on the market structure, crypto analyst Ted Pillows wrote:
“ETH is holding better than BTC now… Until Ethereum reclaims the $1,700 level, the chances of a new low will go up.”
His view aligns with the current technical picture, where reclaiming $1,700 would invalidate the series of lower highs that has controlled price action for nearly two months.
Loss of $1,500 support could expose another leg lower
The bearish case strengthens if Ethereum fails to defend the $1,500-$1,510 support band, which also aligns with the recent swing low on the daily chart. A breakdown below that region would invalidate the current consolidation and expose the next downside targets near $1,400 before attention shifts toward the $1,200 area discussed by several market participants.
Macro conditions continue to add uncertainty. Sticky U.S. inflation, expectations for higher interest rates, geopolitical tensions in the Middle East, and weaker decentralized finance activity have reduced risk appetite across digital assets.
Unless ETF flows stabilize, whale selling eases, and Ethereum reclaims resistance above $1,640 and eventually $1,700, quarter-end weakness may continue to weigh on price even as corporate treasuries keep accumulating ETH.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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