Ethereum price forms a bearish dome structure, facing downward pressure

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Crypto World News: Ethereum's price has slipped into a bearish dome structure, currently trading below $2,150, close to $2,115, down nearly 12% over the past seven days. As traders shift funds into Bitcoin, the token briefly rebounded to the support zone around $2,000. The U.S. Senate Banking Committee's advancement of the "Clear Bill" on May 19 triggered selling pressure, and the market failed to sustain gains, instead reacting with a "sell the news" response. A bearish report from JPMorgan warned that future Ethereum upgrades could weaken the network's fee-burning mechanism, further deteriorating institutional sentiment. Ethereum ETFs in the U.S. recorded a tenth consecutive day of net fund outflows, with approximately $215 million flowing out over the past week. On-chain data shows that the number of large Ethereum holder addresses decreased from about 1,100 to nearly 1,030 during the adjustment period. The Ethereum-to-Bitcoin ratio slid to 0.027, indicating underperformance of Ethereum relative to Bitcoin. Any sustained move back above $2,150 would significantly weaken the dome structure.
ETH-0.51%
BTC0.08%
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GaslightLatte
· 59m ago
Previously, ETH was the leader of the copycats, but now it has become relatively weaker.
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Don'tLetTheContractScamMyMom.
· 2h ago
The "Clear Act" advancing actually triggers selling pressure, ironic.
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GateUser-f4b3df7a
· 2h ago
If the gas fee burning mechanism is weakened, the narrative will truly collapse.
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WhitepaperByTheRoadside
· 2h ago
The 2000 support briefly rebounded, but couldn't hold.
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GateUser-8f9ccfec
· 2h ago
ETF has experienced net outflows for ten consecutive days; this sentiment is hard to ignore.
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Glass-HeartMarketMaker
· 2h ago
Whale addresses dropped from 1100 to 1030, smart money is moving out
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GateUser-14d03834
· 2h ago
That report from JPMorgan was quite impactful; institutions are all scared now.
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ReflectiveKey
· 2h ago
All the funds have gone into BTC, Ethereum has been drained this round.
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GateUser-382715ed
· 2h ago
ETH/BTC 0.027 Really starting to feel the pressure.
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