ETH sharply drops 1.32% in 15 minutes: key technical support breached, coupled with continuous ETF outflows triggering selling pressure.

June 26, 2026, 12:30 to 12:45 (UTC), ETH sharply dropped 1.32% in an extremely short 15-minute window, falling to the range of 1527.72-1560.57 USDT, with a volatility of 2.12%. Market sentiment is extremely low, with the Fear and Greed Index falling to 12, indicating extreme fear, and ETH has dropped over 54% from its yearly high.

The main driver of this move is the loss of a key technical support level. On that day, ETH broke below the key psychological level of $1,600, which had provided about two weeks of consolidation since early June, but sellers chose to break downward. The 4-hour candlestick chart shows that every rebound attempt was immediately sold off, reflecting that buying power has been completely exhausted. Technical indicators show the 50-day moving average continues to decline above the price, and the 200-day moving average has turned downward since May 28, forming a death cross on the daily chart.

In addition, continued ETF outflows have formed direct selling pressure. U.S. Ethereum spot ETFs have continued to show net outflows in 2026, with a single-day outflow of $12.77 million on June 18, and total net outflows over six weeks in 2026 exceeding $1.5 billion. Meanwhile, the ETH/BTC ratio plunged to a 10-month low of approximately 0.027, indicating that funds are concentrating in the Bitcoin market, and altcoins as a whole are facing liquidity drainage pressure. The Glamsterdam network upgrade has been postponed to the end of Q3, weakening the long-term narrative support. The Federal Reserve's June rate decision kept the range at 3.50%-3.75% unchanged, but the dot plot sent a hawkish signal, and the expectation of liquidity tightening has generally suppressed risk assets.

Currently, attention should be paid to the validity of the key support level at $1,530. If it breaks down effectively, it may trigger a chain reaction of programmed sell orders and leveraged liquidations, with downside potentially opening up to $1,450. If it can stabilize above $1,650 and hold, it may attract technical buying. Investors need to closely monitor ETF fund flows, changes in on-chain large holder addresses, and the battle in the $1,550-$1,600 range.