ETH Holds Near $1,675 as $547M Liquidation Risk Mounts

Ethereum has fallen to around $1,675 after breaking the $1,800-$1,850 support zone, extending the selloff that began with the breach of $2,000 on May 28. The decline followed $500M+ in ETF outflows, geopolitical shocks, and over $1B in liquidations, pushing price toward $1,555 clusters where a single whale faces $93.7M in risk. Despite the drop, staking hit a record 39.1M ETH, large wallets increased holdings to 22.03% of supply, and exchange reserves continued to shrink, leaving mixed signals as funding rates flattened near zero.