---
title: "Key facts: Ether below neckline; $1.1B outflows; Miners 7%; Russell join"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288719017.md"
description: "Ether fell below key technical levels near $1,795 amid 16 days of ETF outflows. Major holders BitMine and Sharklink control ~7% of supply, while ETH joins the Russell 1000 on June 26. A whale increased holdings to 82,754 ETH via leverage. Conversely, Bankless co-founder David Hoffman sold all ETH, citing leadership issues."
datetime: "2026-06-04T12:14:35.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288719017.md)
  - [en](https://longbridge.com/en/news/288719017.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288719017.md)
---

# Key facts: Ether below neckline; $1.1B outflows; Miners 7%; Russell join

-   Ether (ETHUSD) fell below the inverted cup-and-handle neckline on June 2, trading near $1,795. A drop under $1,714 could target $1,550; reclaiming $1,893 then $2,004 would resume upside. 1
-   Spot Ether ETFs logged 16 straight days of net outflows: US-listed funds shed about $847.2M last week, while global Ether ETFs saw over $257M in outflows. 2
-   BitMine and Sharklink hold ~7% of circulating Ether; BitMine owns ~5.4M ETH after buying 111,942 ETH. Annual ETH staking rewards ~$500M. ETH joins Russell 1000 on June 26. 3
-   ETHUSD trades in a rising three-day channel, currently pulling back inside an uptrend. Traders watch a key support level to see if price holds amid channel consolidation. 4
-   Whale borrowed $10M USDT to buy 5,589 ETH at ~$1,789, raising holdings to 82,754 ETH, valued near $147.3M. 5
-   Ether (ETHUSD) broke above its 4-hour 200 SMA and 4-hour 200 EMA for the first time since April, showing relative strength vs Bitcoin—signal traders watch for sustained momentum. 6
-   Bankless co-founder David Hoffman sold all ETH; half proceeds moved into VVV, NEAR, ZEC, HYPE, the rest into LIT. He called Ethereum a utility needing stronger leadership to draw investors. 7

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## Related News & Research

- [Fireblocks Says Institutional ETH Staking Is Moving Toward Standardized Rails](https://longbridge.com/en/news/289646759.md)
- [Tom Lee’s Bitmine buys $41 million worth of ETH, continuing aggressive treasury expansion: onchain data](https://longbridge.com/en/news/289405804.md)
- [Key facts: ETH OI ~3.7M; Binance 44%+; perps lead; balances near lows](https://longbridge.com/en/news/289596374.md)
- [Ethereum hovers near $1,700 as Bankless co-founder sells](https://longbridge.com/en/news/288865701.md)
- [Aurora to Hold Live Stream on X and YouTube on June 12th](https://longbridge.com/en/news/289518441.md)