ETH plunges 1.02% within 15 minutes: ETF liquidation sell-pressure and institutional capital exodus resonate

From 13:30 to 13:45 UTC on June 18, 2026, ETH saw a sharp drop of 1.02% within 15 minutes; the price fell from 1,750.8 USDT to 1,731.36 USDT, with a range of 1.11%. Short-term returns quickly turned negative, and market volatility intensified noticeably.

The main driver behind this move is that REX-Osprey ETH + Staking ETF (ESK) officially entered the liquidation process on June 18. All ETH holdings need to be sold in a concentrated manner to return funds to investors, directly triggering sell-pressure within this time window. At the same time, spot Ethereum ETFs have recorded net redemptions for 15 consecutive trading days, with net outflows of $401 million throughout May. This makes it the worst liquidity month of 2026 so far, as institutional capital continues to withdraw, creating ongoing downside pressure.

In addition, Bitcoin broke below the critical $70,000 level in early this month. Over the past 24 hours, the crypto market saw nearly $1 billion in forced liquidations. The spillover effect has made it difficult for ETH to avoid the downturn. On-chain data shows that whale addresses had already reduced their holdings in the weeks before the price decline. Exchange ETH reserves fell to 15.28 million, the lowest in nine years, indicating weak buy-side support. The technical picture is bearish, with the 50-day moving average at $2,080; the current price has already fallen below all medium- to long-term moving average supports.

The $1,650 support level is now being tested. If it breaks, ETH could probe the $1,500 psychological level. Exchange liquidity is at multi-year lows. Monitor whether sell-pressure eases after the ETF liquidation is completed and whether Bitcoin stabilizes, and watch for the risk of cascading liquidations by leveraged funds.