Over the past few months, I’ve been saying that no matter how good the narrative is, without liquidity, prices won’t go up. Now, the macro environment is finally starting to shift. After weaker-than-expected non-farm payrolls, the market is once again trading on liquidity, and ETH itself has welcomed a new catalyst. So, is there value around $1,700 right now? Let’s analyze it from two angles. Vitalik’s newly announced 'Lean Ethereum' roadmap isn’t just an ordinary upgrade—it’s a complete overhaul of Ethereum’s underlying infrastructure over the next 3 to 4 years. Lower fees, stronger privacy protections, and quantum resistance are all fundamentally aimed at ensuring ETH remains the foundational layer of blockchain infrastructure. In my opinion, ETH still represents the true direction of blockchain technology development. At the same time, on-chain whales are continuing to accumulate, and Binance’s ETH withdrawal volume has hit its highest level in over three years, with daily withdrawal transactions exceeding 166,000. Capital is starting to vote with its actions. If macro liquidity continues to improve, ethereum:native might currently be in a bottom range.