Ethereum Price Drops as Market Pressure Builds
Ethereum is back under pressure as ETH trades near $1,660, falling by more than 5% in the last 24 hours. The move comes during a wider crypto market selloff, with Bitcoin, Solana, XRP, BNB and Dogecoin also trading in the red.
However, Ethereum now has an additional story weighing on sentiment: the Ethereum Foundation has reportedly cut around 20% of its workforce as part of a wider internal restructuring. For traders, this creates a difficult question. Is ETH only falling because the entire market is weak, or is the Foundation’s shake-up adding extra pressure to Ethereum’s short-term outlook?
By TradingView - ETHUSD_2026-06-23 (YTD)Ethereum Foundation Cuts 20% of Staff
The Ethereum Foundation has concluded a months-long reorganization process, cutting 54 staff members and moving into a new structure based around five major clusters. The...
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