Ethereum’s $1,500 test shows how quickly Wall Street’s crypto trade has turned
Ethereum fell to about $1,506, its lowest level in more than a year, as a broad crypto selloff hit spot markets, ETFs, exchanges, and derivatives. Spot ETH ETFs have seen four straight weeks of outflows totaling over $870 million, cutting assets from about $30 billion to $8.71 billion and weakening the institutional-demand case for ETH. At the same time, exchange inflows jumped to about 2.24 million ETH in a day, suggesting more liquid supply available for trading and hedging. Heavy deleveraging in futures has wiped out speculative leverage, leaving thinner support and more vulnerability to further downside. Options markets now show strong demand for protection: put premiums have risen, downside strikes near $1,500, $1,400, and $1,000 have attracted large open interest, and short-dated implied volatility has surged. The key near-term question is whether $1,500 holds as support or gives way to another leg lower.
