From a technical perspective, Ethereum on the 4-hour chart shows that the RSI indicator may be approaching the oversold area, while the MACD indicator has formed a death cross above the zero line, with a rapid reduction in the histogram indicating an increase in bearish momentum.

However, on June 11, the Ethereum spot ETF still recorded a net inflow of $240 million, marking 18 consecutive days of net inflows, which demonstrates that institutional investors remain confident in Ethereum's long-term prospects.