2021-12-30 23:52 |
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Ethereum experienced a sharp selloff in June 2026 as multiple macroeconomic and geopolitical pressures weighed on broader crypto market sentiment. Key factors behind the decline include escalating US–Iran tensions, heightened geopolitical risk, a more hawkish stance from the Federal Reserve, and notable outflows from spot crypto exchange-traded funds.
Michael Saylor says Bitcoin's dominance excluding stablecoins reached nearly 70%, while Ethereum's monetary premium is gone and it faces a utility-only future.
Standard Chartered has kept its $100,000 Bitcoin target and $4,000 Ethereum target after the selloff. Standard Chartered digital-assets research head Geoffrey Kendrick said the drop likely set the cycle bottom in his latest note.
Tom Lee hinted BitMine may slow ETH buying after nearing 5% of supply, even as the firm bought 25,000 more ETH and price rose 3%.
The crowd has written off Ethereum as negative narratives dominate social media, but Santiment notes such extreme pessimism has historically preceded sharp.
The cryptocurrency market has been stagnant over the past 24 hours, with Bitcoin trading between the $62,000 and $63,000 regions during that period. Ethereum (ETH), the second-largest cryptocurrency by market cap, is up by less than 1% and continues to trade below $1,700, as per data from various crypto trading platforms, Despite the positive fundamental news, technical indicators suggest that the bears remain in control of the market.
Ethereum has bounced from oversold conditions, but key moving averages continue to cap upside progress.