Ethereum hit $1,505 today — its lowest price since early 2023. This drop represents a -70% decline from the ATH of $4,954 in August 2025 and breaches the level that technical analysts identified as the 'floor' before the crash. The pattern highlighted on the daily candlestick chart is an inverted cup-and-handle — one of the most reliable bearish continuation figures in technical analysis. And the $168 million in ETF outflows in the first week of June confirms that institutional pressure hasn't completely let up after the end of the 17-day streak.
But there's also the flip side: the price bounced today from $1,505 to $1,610 in just a few hours — a 7% intraday gain. And JPMorgan, Bank of America, and Citi announced this week a shared tokenized network built on Ethereum to prevent deposit flight to stablecoins. It's the biggest vote of confidence from banks in the network in 2026, right at the worst price moment.
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💣 DATO BOMBA:
Bitmine, one of the largest corporate holders of Ethereum, is sitting on about $9,000 million in unrealized losses. This is the highest level of unrealized corporate loss of any company betting on a single crypto asset in history. And yet, they aren’t selling. $ETH bounced today from $1,505 to $1,610 in hours — a 7% intraday recovery from the three-year low. The market punished harshly. The technical bounce from extremes is what follows in previous cycles. Glamsterdam is aiming for Q3. Next week's CPI will decide the macro context.
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📊 PRICE: $1,610 · bouncing from a low of $1,505 (lowest since 2023).
🏦 BITMINE: $9,000M in unrealized losses — not selling.
🏦 JPMORGAN + BOFA + CITI: shared tokenized network on Ethereum — real banking adoption.
⚡ GLAMSTERDAM: Q3 2026 — 3.3x gas limit · 10,000 TPS on L1.
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🎯 KEY Levels:
🔴 Support: $1,505 (today's low) — $1,388 (next structural support)
🟡 Resistance: $1,700 (broken support) — $1,768 (first bounce target)
🟢 Soft CPI next week + Glamsterdam Q3: $1,950 → $2,200 — mean reversion.
⚠️ Loss at $1,505: $1,388 — real risk of 52-week low.
📌 IN SUMMARY:
1️⃣ Ethereum hits $1,505 — the lowest since 2023 and the level that technical models identified as the true bottom.
2️⃣ Bitmine with $9,000M in unrealized losses and not selling — the conviction of corporate holders isn’t following the price down.
3️⃣ JPMorgan, BofA, and Citi build a tokenized network on Ethereum — the biggest sign of banking adoption in 2026 comes at the worst price moment.
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Are you stacking $ETH at $1,610 with the largest banking network building on it — or does the inverted cup-and-handle suggest it could first hit $1,388? 👇
⚠️ Not financial advice. DYOR.
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