😤Brothers! Ethereum $ETH has just turned in the worst quarterly performance in history

— Q4 down 28%, Q1 down 29%, Q2 down 25.4%, the first time in history that three consecutive quarters have fallen, dropping from 4950 to 1569, with nearly 70%😷 gone
But the strange thing is: when it fell the hardest, smart money moved the most aggressively🤔
First, the Foundation carried out major layoffs, but “replacements” launched the same day.
On June 23, the Ethereum Foundation laid off 54 people, cutting the annual budget by 40%. Since the beginning of the year, about 9 executives have left, including Executive Director Wang Xiaowei.
But on the same day, 5 senior Foundation researchers withdrew money from BitMine and SharpLink to set up an independent nonprofit organization, Ethlabs—current funding commitments already cover 2-3 years of operations, and the community round is still open. Ethlabs has clearly defined three major directions: Chain (L1 scaling, blob scaling), Platform (cross-chain interoperability, EVM roadmap), Growth (driving the rapid confirmation rule to land).
Vitalik has just posted that obfuscation technology is the cryptography “final boss,” and when combined with blockchain, it can build nearly trustless on-chain privacy applications. While slashing budgets and publishing top-tier papers at the same time—this isn’t a retreat; it’s a change in tactics.
Second, institutions are voting with real actions.
Last week, BitMine poured another $43 million to buy 27,084 ETH, pushing its total holdings to 5.7 million ETH, 4.7% of the total ETH supply—94% of the 5% target. The average purchase price is exactly $1,569. On June 26, it was just included in the Russell 1000 Index. A publicly traded company taking nearly 5% of the ETH—this can’t be summed up by just the word “bullish.”
Third, the technicals are also sending signals.
The Graamsdan upgrade has entered the final testing stage—200M gas limit, tripling capacity, and transfer fees down by as much as 71%. ETH transfers will be 70% cheaper than now, and the significance of that for on-chain activity doesn’t need to be explained. Mainnet activation is expected between September and December.
The monthly RSI has dropped to 27; after it has historically fallen below 30, just look it up in the K-line yourself.
Fourth, July is the most important milestone of the year—Nonfarm payrolls, the Senate vote on the crypto bill, the Walsh hearing, the US-Iran talks, the Federal Reserve meeting—all crammed into this one month.
Is 1569 the bottom? No one can be sure. But a triple drop in itself is an outpouring of extreme sentiment, and after extremes, reversals often follow.
Do you think 1569 is the bottom or on the halfway up the mountain? See you in the comments🧐
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