Now ETH has basically become the punching bag of the entire crypto space—the most heavily criticized and the most harshly kicked.

$1,600 is right at the final psychological stop-loss line for most people.

Earlier, the Foundation's restructuring wave—layoffs, budget cuts—triggered panic selling like a floodgate opening the moment the news broke.
Coupled with days of ETF outflows, shorts seized the opportunity to crush it relentlessly, driving the price into the coldest corner.

But at the $1,600 level, the bulls stopped retreating and started to hold the line hard.

Looking at the numbers, no fluff.
On the first day of July, BlackRock's ETHA saw net inflows of over $36 million, finally reversing the continuous exodus from the entire Ethereum ETF pool into net buying.
What's more solid is the on-chain staking rate, still firmly above 33%—more than a third of the circulating supply is locked up by long-term capital, completely ignoring this wave of panic.