Daily Cryptocurrency Analysis: Ethereum (ETH)

Market Performance and Analysis:

According to the latest data as of June 24, 2026, Ethereum (ETH) follows the broader crypto market into a deep deleveraging downtrend, with recent performance clearly weaker than Bitcoin, showing a continuous retreat of its defensive line and a softening trend.

Price Dynamics: Currently trading between $1,650–$1,730 (approximately 52,900 TWD), down 32% year-to-date.

Technical Outlook: The daily chart structure is under strong dual pressure from the 20-day moving average (EMA) and a descending trendline. Currently, the bulls are fighting to defend the critical support at $1,611, which was recently tested near $1,520 to seek liquidity; the first resistance level above has moved down to $1,750. Bulls must break through with volume and reclaim this neckline to ease the downward warning.

Fundamental Developments and Bull/Bear Events:

Epic Restructuring and Layoffs by the Foundation (Short-term Bearish): On June 23, the Ethereum Foundation (EF) announced the completion of a months-long internal restructuring, cutting approximately 20% of staff (about 54 people). Co-founder Vitalik Buterin stated this aims to reduce operational expenses by 40% this year to ensure that after 2030, the foundation’s annual funding consumption remains within a healthy 5%. While beneficial for long-term financial health, the sharp short-term cut in core expenses has sparked market fears about the efficiency of ecosystem development.

Controversy over Ecosystem Black-Box Fundraising (Sentiment Bearish): Amid the price slump, newly established Ethereum ecosystem organizations Ethlabs and Argot (supported by major figures like Joe Lubin) have triggered fierce debates over transparency and accountability regarding budget and funding sources, as they have not fully disclosed their financial details. This further undermines retail investors’ confidence in ecosystem governance.

Institutional Accumulation Against the Trend (Long-term Bullish): Despite retail investors selling off and ETFs experiencing short-term outflows, Wall Street’s long-term capital is aggressively accumulating. On June 22, US-listed company Bitmine Immersion Technologies (BMNR) announced its treasury holds as many as 5.67 million ETH (worth about $8.2 billion), controlling approximately 4.7% of the global circulating supply. This is just one step away from their “5% alchemy” institutional lock-up strategy. Additionally, macro heavyweight Dan Tapiero reaffirmed that with the on-chain landing of RWA (Real-World Asset Tokenization) and decentralized finance in the medium to long term, ETH’s fundamentals still hold 5 to 10 times growth potential.

Disclaimer: For reference only, not investment advice.

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