ETH will stay below $1,700 on June 9

Ethereum is recovering with Bitcoin but the ETH/BTC ratio remains at 2020 lows and BitMine's 5.54M ETH treasury is a potential overhang. The Glamsterdam upgrade catalyst has not triggered meaningful buying yet. ETH has been consistently underperforming BTC on every recovery attempt in 2026. My call is ETH stays below $1,700 on June 9 as the recovery is BTC-led not altcoin-led.