Ethereum Plunges to Fourth Consecutive Quarterly Loss

Ethereum (ETH) is facing its fourth consecutive quarter in the red amid institutional headwinds. The second-largest cryptocurrency by market cap has plunged approximately 50% year-to-date and faces the prospect of three consecutive quarterly losses.

The digital asset has failed to maintain traction above critical technical thresholds throughout June, with its price hovering around $1,580.

Derivatives market analysis reveals $4.09 billion in short contracts compared to just $1.31 billion in long positions, highlighting prevailing bearish sentiment among traders.