Ethereum (ETH) has entered a bear market, with its price falling from $2,470 to $2,000. This decline is exacerbated by significant outflows from Ethereum ETFs, totaling over $540 million in May alone, effectively reversing the previous month's inflows. The iShares Ethereum Trust, holding $5.7 billion in assets, remains the largest ETH ETF. Investors are shifting their focus to stocks, with the Vanguard S&P 500 ETF gaining over $64 billion this year. Additionally, the total value locked in Ethereum's ecosystem has plummeted from $95 billion to $42 billion. Technical analysis indicates that ETH is forming an inverted cup-and-handle pattern, suggesting further price declines. Currently, ETH is below both the 50-day and 100-day Exponential Moving Averages, and its Relative Strength Index (RSI) has dropped to 31, indicating bearish momentum. The next significant price target for Ethereum is $1,763, and a drop below this level could lead to further declines towards the psychological threshold of $1,500.