The new estimate includes the cost of the war to date as well as expenses like meal pay that are anticipated through the end of the fiscal year.

© AP Photo/Jacquelyn Martin

On Wednesday, Defense Secretary Pete Hegseth made the startling announcement that the US military would begin requiring all active duty and reserve personnel aged 30 and older to undergo mandatory screening for testosterone deficiency. The screenings will take place during yearly health assessments. Those under age 30 can also get screened on request.

In a short video posted on social media, Hegseth explained to the military community that the screenings and possible subsequent treatments are intended to "optimize your performance, your resilience, and your long-term health." While saying that the initiative wasn't about "artificial enhancement" and that members could decline treatment, Hegseth claimed that the testing and potential treatment was for "restoring and optimizing" capabilities, protecting "longevity," and "ensuring you have the biological foundation required to sustain the fight."

But will testosterone screening and treatment actually "optimize" our "warfighters"? Will it help most of them live longer? Should everyone else get screened and treated, too?

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The Pentagon will screen troops 30 and older for low testosterone during annual exams, a move intended to improve readiness and health.

© The Associated Press

"It's impossible to assess any safeguards that may exist in your company’s agreement with DoD without seeing the full contract," Sen. Elizabeth Warren wrote.

© The Associated Press

Soldiers with a confirmed waist-to-height ratio of 0.55 or higher will be placed in the Army's body composition improvement program.

© AP Photo/Chris Carlson

Ethereum is still waiting for the market to give it a cleaner story. ETH is holding near the $1,625 area, and that stability is useful, but it has not yet been enough to turn the chart into a convincing breakout.

What it has done is keep the rotation argument alive. With Bitcoin’s ETF demand under pressure and the market looking for new leadership, Ethereum is once again being watched as the asset that could either confirm a broader crypto recovery or expose how thin altcoin demand really is.

For more details, visit the official Farside platform.

TL;DR

ETH is trading around $1,625 while Bitcoin remains tied closely to ETF flow pressure. That gives Ethereum a possible rotation angle, but the setup still needs confirmation. Traders are watching whether ETH can hold its range, whether Ether ETF flows improve, and whether activity around stablecoins, tokenization, and DeFi can rebuild the network’s investment case.

Ethereum’s problem is not that it lacks narratives. It has plenty. The issue is that price has not consistently rewarded them.

Stablecoins, tokenized assets, staking, DeFi, and layer-2 activity all support the long-term Ethereum story. But in the short term, traders want to see flows and price action line up.

Rotation Needs Proof

The rotation trade is simple in theory. If Bitcoin stops acting as the only institutional magnet, capital looks for the next liquid large-cap asset. Ethereum is the obvious candidate because it has its own ETF structure, deep market liquidity, and a large developer ecosystem.

But rotation is not automatic.

If investors are reducing crypto exposure broadly, ETH does not benefit just because Bitcoin is weak. It only benefits if capital is moving within crypto rather than leaving the asset class entirely. That is why Ether ETF data matters. It tells the market whether regulated investors are adding ETH exposure or treating the whole sector with caution.

Ethereum also needs to keep defending the $1,600 zone. A clean hold there gives bulls something to build around. A break below it would make the rotation argument harder to sell.

What Would Change The Tone

The first thing that would help Ethereum is better ETF flow consistency. The second is a stronger on-chain activity story that traders can connect to ETH demand rather than just ecosystem usage.

That has been Ethereum’s challenge for a while. The network can be deeply important without ETH immediately outperforming. For price to respond, investors need to believe that activity ultimately translates into value capture.

That is why stablecoin and tokenization growth remain central to the thesis. They are not exciting in the meme-coin sense, but they are exactly the kind of activity that institutions understand.

For now, Ethereum is in a waiting phase. It has held up enough to stay relevant, but not enough to lead decisively. If Bitcoin ETF pressure continues and ETH flows improve, the rotation trade could become louder quickly. If not, Ethereum may remain stuck as the market’s favourite “almost” setup.

This report is based on Ether ETF flow data and live market pricing.

This article was written by the News Desk and edited by Samuel Rae.

Source: Farside

The unions argue DoD's decision to terminate collective bargaining reversed its policy to “leave CBAs in place without any reasoned explanation.”

© AP Photo/Patrick Semansky

Workforce reductions at DOT&E have also forced personnel to oversee more programs, including those outside their areas of technical expertise.

© U.S. Army photo by Spc. Dustin D. Biven.

The U.S. has made a generational bet on AI to drive productivity, economic growth and national security. That bet is strongest when markets remain open.

© Getty Images/WANAN YOSSINGKUM