ETH slips below $1,600 while BTC sinks on ETF outflows and weakening demand

Ethereum is trading below the $1,600 level after weeks of heavy selling, according to market commentary citing cooling bearish derivatives positioning and falling ETH futures leverage. The reports also flag nearby technical support at $1,524 and $1,404, while noting broader pressure despite signs that liquidation risk has eased. In a separate update, ETH is described as being rejected repeatedly near the $1,720 to $1,780 resistance band and currently testing a demand area around $1,460 to $1,560, with exchange inflows suggesting selling pressure remains elevated ^{[1] [2]}.

Bitcoin’s outlook has also been pressured by ETF and positioning dynamics. One report highlights large June ETF outflows attributed to BlackRock and Fidelity as BTC trades near the $60,000 area. Additional coverage points to selling pressure building as Bitcoin’s apparent demand stays negative for 208 straight days, while another account says BTC has slid toward the $58,000 area amid ETF outflows and the influence of options expiry ^{[3] [4] [5]}.

Overall, recent coverage emphasizes risk-off pressure across major coins, with ETH stuck below key resistance and BTC facing continued ETF-related selling and persistently weak on-chain demand metrics ^{[1] [2] [3] [4]}.