Ethereum

Lens

Spot

Tom Lee

<h3 id="what-to-know">What to Know</h3>
<ul>
 <li>Ethereum holders entered losses despite years of network progress recently.</li>
 <li>Olson highlighted eight red monthly candles and weakening technical structure.</li>
 <li>Whale traders expanded leveraged shorts while Tom Lee remained optimistic.</li>
</ul>
Ethereum investors who accumulated the asset over the past five years have fallen into negative territory as ETH continues to trade near price levels last seen in early 2021. <a href="https://x.com/JesseOlson/status/2071801761766236535" rel="noopener noreferrer nofollow">According to trader and market analyst Jesse Olson</a>, Ethereum’s latest monthly performance has erased gains from several major milestones, including the launch of U.S. spot ETFs, the Merge, and multiple network upgrades. 
Olson shared the market assessment while highlighting Ethereum’s weakening long-term structure. He noted that ETH is on track to close another month below a critical support level. According to Olson, eight of Ethereum’s last ten monthly candles have closed in the red, reflecting sustained selling pressure across the market. 
The latest decline has pushed Ethereum back to prices recorded before institutional products entered the market. Consequently, many investors who bought ETH during the previous cycle are now holding unrealized losses despite years of network development and broader crypto adoption. 
Also Read: <a href="https://36crypto.com/uk-fca-finalizes-crypto-framework-ahead-of-mandatory-2027-authorization-regime/" rel="noopener noreferrer nofollow">UK FCA Finalizes Crypto Framework Ahead of Mandatory 2027 Authorization Regime</a> 
<h2 id="bearish-technical-signals-add-pressure-as-leveraged-traders-increase-short-positions">Bearish technical signals add pressure as leveraged traders increase short positions</h2>
According to Olson, Ethereum’s monthly chart is preparing to print a lower low,<a href="https://36crypto.com/ethereum-whales-offload-880m-worth-of-eth-as-critical-support-faces-pressure/" rel="noopener noreferrer nofollow"> reinforcing</a> the current bearish trend. He also pointed to another historic development. Ethereum has recorded a downward-sloping 200-week simple moving average for the first time. Additionally, the chart has formed a double-top pattern with a lower high, which often signals weakening momentum. 
Meanwhile, blockchain tracking platform Onchain Lens reported growing bearish activity among large traders. According to the platform, a whale identified as wallet “0xa6e” recently opened a 22,000 ETH short position using 25x leverage. The position carries an estimated value of approximately $35 million, indicating that some institutional-scale traders continue to expect further downside. 
<div class="embed-x">
 <blockquote class="twitter-tweet">
 <a href="https://x.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> monthly chart is about to print a lower low as price is closing below monthly support. 
 8 of the last 10 monthly candles have been red. 
 If you bought Ethereum anytime in the past 5+ years and did not sell to realize a gain, then your purchase is underwater. <a href="https://t.co/R0ia3GKnKh" rel="noopener noreferrer nofollow">https://t.co/R0ia3GKnKh</a><a href="https://t.co/1MNxhjAdRB" rel="noopener noreferrer nofollow">pic.twitter.com/1MNxhjAdRB</a> 
 — Jesse Olson (@JesseOlson) <a href="https://x.com/JesseOlson/status/2071801761766236535?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 30, 2026</a> 
 </blockquote>
</div>
Besides the technical weakness, Ethereum continues to face several fundamental challenges. Spot Ethereum exchange-traded funds have experienced persistent net outflows in recent weeks. As a result, institutional demand has softened compared to earlier expectations. Additionally, Ethereum’s Layer 1 revenue has declined significantly since the Dencun upgrade reduced transaction costs through expanded Layer 2 scaling. Although the upgrade improved network efficiency, it also lowered fee generation on the main chain. 
At the same time, reports surrounding the Ethereum Foundation have raised additional concerns. The organization has faced financial pressure alongside continued departures of developers, creating uncertainty around the project’s near-term momentum. Despite these setbacks, some market participants remain optimistic about Ethereum’s long-term outlook. 
Fundstrat’s<a href="https://36crypto.com/tom-lee-the-strategic-chairman-behind-bitmine-and-the-future-of-bitcoin-infrastructure/" rel="noopener noreferrer nofollow"> Tom Lee</a>, who also serves as chairman of Bitmine Technologies, recently urged investors to avoid panic selling during the current downturn. While short-term conditions remain challenging, Lee believes Ethereum still has long-term growth potential as broader market conditions eventually improve. 
<h2 id="strong-conclusion-strong">Conclusion</h2>
Ethereum continues to face mounting technical and fundamental pressure as prices revisit early 2021 levels. While recent market action has placed many long-term holders in negative territory, analysts remain divided over whether the current weakness represents a prolonged trend or another phase before the market stabilizes. 
Also Read: <a href="https://36crypto.com/guo-wengui-sentenced-to-30-years-in-u-s-over-billion-dollar-crypto-fraud-scheme/" rel="noopener noreferrer nofollow">Guo Wengui Sentenced to 30 Years in U.S. Over Billion-Dollar Crypto Fraud Scheme</a> 
The post <a href="https://36crypto.com/ethereum-news-nearly-all-five-year-eth-buyers-slip-into-losses-as-price-hits-2021-levels/" rel="noopener noreferrer nofollow">Ethereum News: Nearly All Five-Year ETH Buyers Slip Into Losses as Price Hits 2021 Levels</a> appeared first on <a href="https://36crypto.com" rel="noopener noreferrer nofollow">36Crypto</a>.

Ethereum News: Nearly All Five-Year ETH Buyers Slip Into Losses as Price Hits 2021 Levels

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