ETH drops 0.68% in 15 minutes: ETF fund outflows combined with technical support breakdown trigger short-term selling

From 18:45 to 19:00 (UTC) on May 29, 2026, ETH showed an abnormal -0.68% return within the 15-minute candlestick period, with a price range of 2006.15-2025.36 USDT and an amplitude of 0.95%. Against the backdrop of a slight overall rise that day, there was a countertrend drop during this time window; market sentiment leaned cautious, and short-term sell pressure was concentrated and released.

The main driver behind this anomaly was the continuous net outflow of the US spot ETH ETF since January 20, 2026. On February 4, 2026, the single-day net outflow reached 79.4 million USD, led by BlackRock’s ETHA selling off. Institutional capital outflows weakened the depth of market buying, forming the core driver of the downward price move. At the same time, ETH’s price fell from the early May 2025 415 range to around $2010, down about 16%-17%. After key technical support levels were broken, trend-following strategies reduced positions.

In addition, co-founder Vitalik Buterin sold 2961.5 ETH at an average price of $2228 in early 2026. Such insider selling is often interpreted by the market as a short-term negative signal, reinforcing expectations of follow-up selling. Meanwhile, on-chain data shows that during the price pullback, some whales transferred large amounts of ETH to exchanges, reflecting short-term adjustments in their position structure. On the fundamentals side, although DeFi TVL recovered to 45.74 billion USD and ETH accounted for 68% of the market share, the pressure from liquidity and technical factors was not offset by medium- and long-term fundamentals.

What needs to be watched now is whether ETH ETF fund flows can turn, whether support near $2010 can hold steady, and changes in on-chain exchange reserves. Short-term volatility risks remain; it is recommended to monitor macro policy developments and shifts in institutional capital sentiment.