Ethereum (ETH) Daily Market Analysis 02 July 2026

Ethereum consolidates near $1,604 as institutional push intensifies despite persistent ETF outflows – here's the latest: • Ethereum traded at $1,604.37 on 2 July 2026, up 2.09% in 24 hours but down 1.10% weekly • Ethereum Institutional launched as independent non-profit on 1 July, backed by BitMine, SharpLink, and Joe Lubin • Citigroup cut 12-month ETH forecast to $2,240 from $3,175, citing weak ETF flows and slow legislation • US spot Ethereum ETFs saw $345 million net outflows since 17 June, with $8 million outflow on 29 June • Robinhood introduced 7% yield savings product on Morpho lending protocol, boosting DeFi ecosystem activity