CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Jun 23, 2025

Matrixport Warns Ether’s Price Surge Lacks Fundamental Support

1 min

Ether's recent price rally is questioned by Matrixport, which indicates that the surge was driven by speculative futures positions rather than organic demand. Key points include:

  • Last week's price increase made ETH vulnerable to a sharp decline.
  • ETH experienced an over 8% drop during a sell-off following a U.S. airstrike on Iranian nuclear sites.
  • Current trading is around $2,248, down from above $2,400 last week.
  • Traders are hedging against downside risk, as evidenced by negative skew in ETH's 25-delta risk reversals for June to July expiries.
  • QCP Capital notes an ongoing preference for downside protection in both BTC and ETH markets.