ETH Falls but Retail Investors' FOMO Rises, Institutional Selling Hints at Downside to $1,750
Odaily reported that Ethereum has fallen below the $2,000 mark for the first time since March. Despite the continued price weakness, social media data shows that retail investors' "buy the dip" sentiment is still heating up. Santiment points out that historically, overly optimistic retail sentiment often indicates the market has not yet bottomed, and the real buying opportunity usually appears during the panic phase.
Meanwhile, institutional and whale funds continue to reduce positions. Data shows that the cumulative net outflow from spot Ethereum ETFs in the US has exceeded $470 million since May 7. Harvard University's endowment fund recently liquidated approximately $87 million worth of ETH positions. David Hoffman, co-founder of Bankless, also disclosed that he has sold his ETH holdings.
According to on-chain data platform Glassnode, the holdings of whale addresses holding over 10,000 ETH have decreased by more than 5% since the beginning of 2026. However, BitMine, under Tom Lee, still holds approximately 5.21 million ETH, accounting for about 4.31% of the total supply.
On the technical side, ETH has broken down from an ascending wedge pattern. Analysts believe it could further decline towards the $1,750 region, representing a potential drop of about 18% from the current price. (Cointelegraph)
