ETHUSD- Ethereum Gains 5% as Dip Buyers Accumulate
Ethereum price (ETHUSD) increased by 5% to $1,628, outperforming a broader market rebound, primarily driven by a short squeeze after an extreme sell-off. Dip buyers stepped up at the extremely depressed price of $1.5k after sustained sell pressure.
Ethereum had fallen back to the $1,500 support level, a zone that held during major corrections in late 2023 and April 2025. Crypto analysts said ETH’s narrative is split between severe technical weakness at a critical price floor and emerging signals of smart-money accumulation.
The fresh rally was amplified by forced buying. Over $1.43 billion in Ethereum derivatives positions were liquidated in the past 24 hours, with short liquidations slightly exceeding longs.
Ethereum found footing at a key historical support zone against Bitcoin, a level that preceded major rallies in the past.
Supporting the uptick, an Ethereum OG whale bought $56 million worth of ETH below $1,570, and the Pando Rings hacker spent 10 million DAI to buy 6,234 ETH at $1,602.
The immediate path hinges on macro events and ETF flows. The key trigger is the May CPI report on June 10, followed by the FOMC meeting on June 17.
If CPI is cooler than expected, it could fuel a broader risk rally. ETH must hold above the $1,550–$1,500 support zone to avoid retesting last week’s lows near $1,506.
However, technical traders’ signals indicate a cautiously neutral outlook, contingent on whether institutional outflows stabilise and macro pressure eases. A sustained reversal in spot Ethereum ETF flows, which recorded $168 million in net outflows last week. ETH Slips Below $2k as Sellers Dominate Crypto Market
