The ether
Price was under a renewed pressure on July 1, falling to $ 2,418.39 after a day of constant losses, according to the technical analysis model of Coindesk Research.
Ether’s price drop came in the middle of a wider cryptomatic sale. Coingcko data shows that total market capitalization decreased by 4.1% in the last 24 hours, largely driven by a renewed political volatility in the United States
The recession follows a high profile dispute between Elon Musk and Donald Trump about the broad tax plan and expenses of the former president, called “a great bill.” Musk described the “completely crazy” legislation, warning that he would deepen the national debt in $ 5 billion, inverse energy incentives and damage employment. He also threatened to campaign against the Republican senators who support him.
Trump responded by personally, suggesting that Musk should be deported, despite his American citizenship, and accused him of opposing the bill of self -interest related to Tesla’s lost subsidies. The dispute has increased investors about fiscal policy, energy markets and regulatory stability, issues that have historically influenced cryptographic valuations.
In the midst of this uncertainty, a list of fast -growing companies is buying ETH as a strategic reserve asset. On Tuesday, Sharplink Gaming (Nasdaq: Sbet) He issued a press release indicating that he had acquired additional 9,468 ETH, for a value of $ 22.8 million, between June 23 and 27. This carries its total possession of ETH to 198,167, reinforcing its position as the world’s largest Ethereum head. The company said that most of the funds came from a capital increase of $ 24.4 million through its market in the market (ATM) facility.
The president of Sharplink, Joseph Lubin, who also co -founded Ethereum, said the company is integrating ETH in the center of its balance sheet as part of a broader impulse to align with the digital economy. Ethereum framed not as a speculative asset, but as a “strategic currency” for the future of digital trade.
The previous day, Bitmine (Nyse American: BMNR) He revealed a private placement of $ 250 million to finance an Ethereum Treasury strategy. The agreement, which is expected to close before July 3, includes the main sponsors such as Pantera, Founders Fund, Galaxy Digital, Kraken and DCG. Bitmine plans to designate ETH as its main treasure reserve asset and deploy it for betting and defi protocols. President Thomas Lee highlighted Ethereum’s domain in Stablecoins and smart contracts, while CEO Jonathan Bates said the company will be associated with Falconx, Bitgo and Fidelity Digital to expand their holdings.
Together, these developments reflect a broader change in institutional attitudes towards the role of Ethereum in treasure management, even when the ETH price action remains under pressure.
TECHNICAL ANALYSIS
- ETH decreased 3.3% in the last 24 hours, falling from $ 2,500,88 to $ 2,418.39, with a complete range swing of $ 96.41.
- The price broke below the support level of $ 2,460 during the 04:00 UTC hours, which caused a sustained inconvenience pressure.
- The most steep decrease occurred during the 2:00 p.m. UTC, when ETH briefly dropped to $ 2,404.47 amid the highest volume of the session of 379,855.
- The recovery attempts throughout the day stagnated about $ 2,430, with a resistance that formed around $ 2,445.
- Between 20:01 and 21:00 UTC, ETH varied from $ 2,425 to $ 2,418 in the volume in decrease, which suggests possible short -term exhaustion.
- The bearish trend structure remains intact, with lower and lower high ups and downs without clear volume -based investment indicators.
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