Crypto
Ethereum Tumbles Below $2,400 Amid US-Iran Tensions and Rising Treasury Yields
Ethereum's price dropped below $2,400 on September 2 due to renewed US-Iran conflict and rising Treasury yields. The geopolitical tension pushed oil prices higher, strengthened the dollar, and reduced demand for risk assets like Ethereum.
About $94.2 million in ETH futures were liquidated, accelerating the decline. Key support near $2,300 will be critical for stabilization, while a failure to hold this level could see prices drop toward $2,200.
Investors are also watching Federal Reserve rate hike expectations, which add uncertainty to Ethereum's near-term outlook.