The market sentiment has not significantly improved. Despite the fact that the situation in the Middle East has once again disturbed global risk preferences and the overall calm of the ETH movement, the critical position of $1,800 has still not been recovered.

ETF successive outflows to suppress spot demand

SoSoValue data show that American real bitcoin and ETF recorded their seventh consecutive trading day on June 26. Of this amount, the real bitcoin ETF net outflow was approximately $445 million and the ETF net outflow was $12,848,000.

ETF outflows are smaller than bitcoin, but continuous outflows mean that stable spot purchases are still weakening. In a prudential situation, it weakens ETH's rebound.

Until then, the market has continued to pay attention to the pressure of the ETF for ransom. Even with reports that Bitmine buys an additional 75,000 ETHs, prices remain vulnerable, indicating that large single purchases are not sufficient to reverse the overall downward trend.

The giant whales sell 550,000 ETHs a week.

According to the analyst Ali Martinez, the large holders have accumulated about 550,000 ETHs over the past week. At current prices, this part of the new sale is estimated to be approximately $880 million.

In his view, this round of sales pushed ETH to break short-line support near $1633, and the market is currently testing a transactional zone around $1583. If this position is effectively broken, prices may continue to be explored.

Ali mentioned that if the pressure continues into the next week, the market may pay further attention to historical demand areas near $1237 and $1089. These positions are not targeted, but represent areas that in the past have been more active and that may attract buy-backs.

Derivative data are still weak

CryptoQuant Analyst PelinayPA states that the currency is still higher than 1, which usually means a relatively stronger offer. ETH did not, however, show a clear rebound, suggesting that the top pressure was still absorbing the purchase.

In the same analysis, it was mentioned that the price of money in the Taifeng has continued to weaken since April, reflecting a shrinking of the many openings in the derivatives market and a decline in the overall risk preferences of traders.

In terms of the dynamic structure, ETH is still at lower heights, and new ones are emerging. Until this structure is broken, it is difficult for the market to confirm that the downward trend is over.

Market concerns are at 1583 and $1,800.

In short, $1583 is currently the most focused support area. If this position is secured, ETH may visit $1633 again and further test $1,800.

If you can get back on your feet for $1,800, it's possible for the market to see this as a staged repair signal. On the contrary, once $1583 is lost, traders may turn to lower support levels such as $1505 and $1385.

On the whole, the Ether Workshop is now stable but not strong. ETF capital outflows, whale erosion and weak demand for derivatives continue to test the market ' s increased vigilance over the underside support.