ETH Below $1.7K Raises Risk of Another Selling Wave

Ether’s exchange and derivatives indicators have weakened over the past month, prompting warnings of further downside if price stays under $1,700. Binance saw net inflows of about 57,700 ETH in recent days, a pattern that often precedes selling on one of the market’s most liquid platforms.

New depositor activity remains low, with roughly 320 addresses adding ETH, leaving recent stability reliant on existing holders. Derivatives activity has cooled markedly. Futures open interest dropped to $10.3 billion from $15 billion a month ago, the lowest aggregate reading since April 2025, while the estimated leverage ratio slid from 1.10 to 0.83.

That unwind—one of the largest since October 2025—typically reduces short-term volatility and speculative demand but also signals weaker trader conviction. Price trends underline the risk: Ether’s weekly chart is down about 30% over the past 42 days and trades inside the $1,400–$1,700 demand zone.

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