#我的Gate交易时刻 Yes, Ethereum (ETH) has also broken through the important level of $1,600. According to market data on June 24, ETH dipped to a low of **$1,662**, with a 24-hour decline ranging from 3.7% to 5.67%.

This drop was mainly driven by three layers of pressure coming together:

· Dropped Worse Than Bitcoin: The ETH/BTC ratio has fallen to 0.027, a two-year low. This indicates that funds are now more inclined to seek safety, shifting toward Bitcoin, which is draining ETH.
· "Fire in the Backyard": The Ethereum Foundation just announced a 20% layoff to cut costs, but this has raised market concerns about the efficiency of ecosystem development, hurting short-term confidence.
· L2 Regulatory Risk: The market has begun to worry that if Layer 2 projects like Optimism and Arbitrum are classified as securities, the entire "Ethereum ecosystem scaling" narrative would need to be reassessed, causing some valuation premiums to go to zero directly and dragging down the ETH price.

Going forward, watch these key levels:

· Last Line of Defense: The most critical thing is to see if it can hold the $1,550-$1,580 area. If that level is lost, the downside could open up further.
· Upside Resistance: In a short-term rebound, the area around $1,720 is the first resistance level.