Ethereum traded near $1,620 in the second week of June 2026, roughly 67% below its August 2025 all-time high of $4,954. The decline has not been gradual. A record 17-day streak of net outflows from U.S. spot Ethereum ETFs drained approximately $708 million from fund wrappers in May alone. The bleeding has registered on prediction markets with unusual clarity. On Kalshi, the CFTC-regulated prediction exchange, traders now price a 73% chance that ETH falls below $1,500 before January 2027. This article examines the ETF exodus, the prediction-market signal, and what the divergence between bank forecasts and bettor ... (full story)