Ether fell below $1,600 for the first time since April 2025, marking a deeper slide from the previously watched $1,800 level and signaling weaker confidence in short-term gains. The move adds to earlier signs of soft demand and ETF outflows, while the latest report frames broader economic forces as an important driver of market direction. Traders are likely to watch whether ETH can stabilize after the break or face further downside as macro pressures and risk appetite shape sentiment.