As of June 14, 2025, Ethereum (ETH) has shown a significant fluctuation pattern. Influenced by the escalation of the situation in the Middle East and expectations regarding Federal Reserve policies, the ETH price sharply dropped from a high of $2,649 to the $2,490 range within the day, with a 24-hour decline of 7.8%, hitting a three-month low. Technical analysis indicates that the 4-hour chart has broken below the key support level of $2,640, and the short-term resistance level has shifted down to the $2,580-$2,600 range; if it cannot break through, it may further test the strong support at $2,400. The current ETH/BTC ratio has dropped to 0.0245, indicating a relative weakness compared to Bitcoin. Market panic sentiment is spreading, with over $380 million in liquidations in the 24-hour contracts, and long positions accounting for 82%. However, Ethereum's spot ETF has maintained a net inflow for 18 consecutive days, and institutional long-position confidence remains unchanged. In the short term, it is recommended to pay attention to the $2,500 threshold for bulls and bears; if it breaks below, it may trigger algorithmic selling pressure, and a rebound will require breaking through $2,620 to alleviate downward pressure.