ETH Slumps Below $2,400 as Geopolitical Tensions Rise

Ethereum has fallen to around $2,414 over the past 24 hours, with the cryptocurrency under pressure as geopolitical tensions rise and Treasury yields increase.

The token's price drop of 2.3% comes as investors become risk-averse, with renewed fighting between the United States and Iran causing concerns about inflation and energy costs.

Brent crude has surged above $95 per barrel, while Bitcoin has fallen below $77,000 in tandem with a broader crypto market sell-off.

Pressure from bond and currency markets has also contributed to Ethereum's decline, with the US 10-year Treasury yield reaching its highest level since November 2023 at around 4.81%.