ETH Drops to 2021 Levels as Five-Year Buyers Turn Net Negative

Ethereum trades near $1,570 on June 30 with most holders who bought in the past five years now underwater after prices erased gains from the ETF launch and Merge. The decline accelerated after four dormant 2018 wallets sold 33,623 ETH for $52.5 million on June 26, followed by a Vitalik-linked transfer of 7,000 ETH and seven straight days of spot ETF outflows totaling $12.85 million. Whale distribution reached roughly $880 million over the week, pushing ETH below key support at $1,580 and leaving bulls defending lower lows amid persistent selling pressure.