ETH Risks Slide to $1,400 After Rejecting $1,800 on Hawkish Fed

Ethereum is trading near $1,700 after rejecting $1,800 following the June FOMC and Chair Kevin Warsh’s first policy press conference. The move comes after a 10% rally driven by the US-Iran peace deal, whale accumulation of 510,000 ETH, and exchange reserves hitting a 10-year low of 14.5 million ETH. Options markets show medium-term bullish bias with heavy call open interest, yet near-term downside protection has risen sharply. Glamsterdam upgrade testing continues with mainnet eyed for H2 2026, while spot ETF flows remain modest. A sustained break below $1,750 now opens a path toward $1,400.