ETH drops 0.90% in 15 minutes: BTC crashes in tandem, with a technical signal convergence from a MACD dead cross

From 20:30 to 20:45 (UTC) on June 3, 2026, ETH fell 0.90% within 15 minutes, with prices touching the $1,793.37 to $1,810.24 USDT range, an amplitude of 0.93%. Market sentiment is extremely fragile, with the Fear & Greed Index at 11, an extreme fear level.

The main driver of this price move is the market linkage effect caused by BTC’s sharp drop of 6.03% that day. As the second-largest cryptocurrency by market cap, ETH has struggled to stay insulated; it followed suit after BTC broke below the $67,000 key support level. At the same time, the MACD indicator showed a dead cross, and the negative histogram continued to expand. Technical confirmation of sell-off signals strengthened the downward pressure on price.

In addition, multiple resonance factors are at play in the market. The dominance of stablecoins rose sharply by 7.2% that day, with funds rotating away from high-risk assets toward stablecoin risk aversion. On-chain data shows whale behavior is diverging: some whales moved large amounts of ETH to a leading exchange during the price pullback, releasing potential sell signals. ETH exchange reserves have continued to decline, while around $2,323 there is a concentrated long liquidation zone of about $1.04 billion; triggered sell-offs or leveraged liquidations could further intensify short-term volatility.

On the risk side, if ETH breaks below the $1,846 TBO support, it may trigger additional sell-offs. The RSI technical indicator has already dropped to the 22.03 extremely oversold zone, and there remains downside risk in the short term. Investors should watch BTC stabilization, changes in the relative strength of ETH/BTC, and on-chain fund flows; it is recommended to stay cautious near key technical support levels and not blindly buy the dip.