ETH drops sharply 2.54% in 15 minutes: $1,700 technical resistance lost triggers leverage cascade.

June 25, 2026, 13:30-13:45 UTC, ETH dropped sharply by 2.54% within 15 minutes, with the price falling from 1637.49 USDT to 1591.09 USDT, showing a volatility range of 2.84%. During this period, market volatility intensified significantly, with bearish sentiment being released in a concentrated manner.

The main driver of this sudden move was the failure of a key technical resistance level. After the price rebounded from the June low of $1,450, the $1,700 mark shifted from support to resistance, triggering technical selling and programmed stop-losses. Multiple moving averages issued sell signals, and the short-term trend has turned from bullish to bearish.

At the same time, the continuous accumulation of on-chain selling pressure served as a secondary driver. Since early June, a major exchange had accumulated approximately 230,000 ETH (worth about $380 million at the time), and when the price rebounded to a key technical level, the existing holdings were offloaded. In addition, the Ethereum Foundation announced a 20% workforce reduction (54 people) and a 40% budget cut in late June. Combined with the U.S. Federal Reserve maintaining a hawkish stance and spot Ethereum ETFs experiencing net outflows for 17 consecutive days, the fundamental and macro factors resonated to amplify the decline. Leverage positions that had been liquidated for $157 million earlier were triggered again during the price rebound, forming a negative feedback loop.

ETH is currently trading near the key support level of $1,580. If it breaks lower, it could retest the previous low of $1,450. Focus should be on on-chain capital flows, stabilization after the $1,700 resistance level transition, and macro policy signals. Short-term volatility risk has increased; it is advisable to wait and see.