“ETH Drops Over 7% as Safe-Haven Rush Follows Israeli Airstrike on Iran”
Ethereum’s native token ETH nosedived more than 7% in the past day, sliding from $2,770 to under $2,480 before rebounding slightly, as investors retreated into dollars and gold amid escalating Middle East unrest.
The trigger: Israel’s military carried out pre-dawn strikes on Iran’s strategic military and nuclear sites. Iran’s swift counter with drone attacks fueled concerns of a broader conflict, shaking global markets.
Traders fled risk, sending the dollar up 0.6% and gold near a two-month high. Crude oil spiked over 13% before cooling. Market watchers said the flight to safety was “textbook,” with high-risk digital assets like ETH and altcoins hardest hit.
ETH technicals show a breakdown to a 10-day low with increased trading volumes. Price action is now coiling between $2,530 and $2,540, though momentum remains weak. Analysts say volatility is likely to persist until geopolitical risks subside.
