“Ethereum Slides as Middle East Crisis Sparks Rush to Safety”
Ether (ETH) slumped over 7% in the past 24 hours, plunging to a 10-day low of $2,477 before bouncing modestly to $2,536, as renewed geopolitical turmoil prompted a flight from risk assets.
The downturn followed reports of Israeli airstrikes on Iranian nuclear and military infrastructure — a significant escalation that drew swift retaliation from Iran, which launched more than 100 drones toward Israeli territory. Though the U.S. distanced itself from the attack, officials stressed their focus on safeguarding American forces in the region.
As tensions flared, traders abandoned volatile assets in favor of traditional safe havens. The U.S. dollar rose 0.6%, reversing its prior weakness, while gold jumped over 3%, nearing a two-month high. Oil futures spiked as much as 13%, underscoring fears of broader regional instability and supply disruption.
Ethereum’s price drop aligned with broader weakness in crypto and equity markets. High volumes and sharp intraday moves reflected investor anxiety, though ETH found short-term support around the $2,480 zone.
Technical indicators suggest that while selling may be easing, ETH remains vulnerable. The market is likely to remain choppy as traders digest geopolitical risks and reassess exposure to riskier digital assets.
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