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The Ethereum price dropped over 1% in the past 24 hours to trade at $2,265 as of 4:29 a.m. EST, with trading volume surging 7% to $23.4 billion.
This decrease in the ETH price comes after the crypto market was hit hard over the weekend, as rising tensions in the Middle East renewed inflation fears, triggering a sharp sell-off across digital assets.
Bitcoin dropped below the $99,000 mark on Sunday while the price of Ethereum plunged over 10% at one point after the US attacked Iran’s nuclear facilities.
The sell-off appears to be a combination of geopolitical shock and macroeconomic concern.
Following the US attack, Iran has threatened to block the Strait of Hormuz, a crucial passage that accounts for approximately 20% of the global oil supply.
A full closure could drive prices as high as $130 per barrel, according to JPMorgan. Furthermore, the closure could affect the US inflation.
In fact, according to JP Morgan estimates, a closure of the Strait of Hormuz could send oil prices to $120-$130/barrel.
This would imply a spike in US CPI inflation to ~5%.
The last time we saw US inflation at 5% was in March 2023, when the Fed was aggressively hiking rates. pic.twitter.com/SwhsQZ1vzS
— The Kobeissi Letter (@KobeissiLetter) June 22, 2025
Could ongoing tensions in the Middle East lead to further decline for Ethereum (ETH)?
Ethereum Price Set For Minor Pullback Before Potential Rebound
At the beginning of the year, the ETH price underwent a sustained downtrend within a falling channel pattern after hitting the $4,040 resistance level. This decline pushed the Ethereum price to the $1,552 support zone.
That support allowed the bulls to take charge of ETH, pushing it back to $2,686, thereby forming a complete rounded bottom pattern, often considered a bullish trend reversal, as GeckoTerminal data shows. The price of Ethereum has recently invalidated this sentiment, with ETH plunging below the $2,452 support level, due to the rising tensions in the Middle East.
As a result of the downtrend, the Relative Strength Index (RSI) appears to be dropping from the neutral zone, currently at 47, indicating that the asset may soon become oversold.
Meanwhile, Ethereum now trades well below both the 50 and 200 Simple Moving Averages (SMAs) on the 3-day chart, with an intersection that formed a death cross at $2,709, indicating that the price of Ethereum remains under bearish pressure.
ETH Price Prediction
Looking ahead, the Ethereum price may continue to drop as it aims to sustain the downtrend and close the Fair Value Gap (FVG). If this sentiment continues, the next targets could be at the $1,968 and $1,892 levels.
If tensions between Iran and Israel escalate, Ethereum’s price could continue to decline as broader sell-offs in digital assets persist.
On the upside, a recovery above that support level may push Ethereum higher, potentially targeting the $2,686 mark, which lies on the neckline of the rounded bottom pattern.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which will give token holders free BTC.
Jacob Crypto Bury, a prominent YouTuber with over 56.8k subscribers, says BTCBULL has the potential to soar 10X after launch.
BTC Bull Token Presale Charges Towards $8 Million
BTC Bull Token provides a smart way to accumulate Bitcoin while also aiming for capital gains through a potential BTCBULL price rally after its exchange listing.
BTCBULL holders receive free BTC each time Bitcoin hits major price milestones. When Bitcoin reaches $150,000 for the first time, the project will reward holders with BTC for based on the amount of BTCBULL they own.
Every new $50,000 milestone from that point triggers more BTC rewards. All investors must hold the BTCBULL token to become eligible for the airdrops, which are weighted based on the amount of BTCBULL they hold.
There will also be a massive BTCBULL airdrop for the strongest hodlers when BTC hits $250,000, weighted by ”Community Sale purchase amount.”
Beyond the Bitcoin rewards, the project also incorporates token burns that kick in when the Bitcoin price reaches $125,000 for the first time and repeat for every new $50,000 milestone thereafter.
Last chance to buy BTCBULL before launch! 🐂🧨
The countdown ends on June 30th. ⌛
Here’s what’s coming:
🔥 BTCBULL token burns
🪂 BTC airdrops at price milestones
🎁 BTCBULL airdrop when Bitcoin hits $250KJoin the herd: https://t.co/FQZXEzFwWu pic.twitter.com/aeUmLJcSOC
— BTCBULL_TOKEN (@BTCBULL_TOKEN) June 2, 2025
BTCBULL token holders also have an opportunity to earn passively through the project’s staking platform, which offers a massive 55% annual percentage yield (APY).
BTC Bull Token’s fundraising campaign is accelerating rapidly, with investors having pumped $7.3 million into the ICO so far.
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL tokens for $0.00258 each using BNB, ETH, USDT, or a bank card.
Buy before the presale ends in about 7 days.
Visit the BTC Bull Token website.
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