Ethereum's price has declined by 1.15% to $2,192.72 as the collapse of US-Iran negotiations over nuclear and Strait of Hormuz issues intensifies geopolitical risks in crypto markets.
The persistent tensions have fueled capital outflows from Ethereum, with over $327 million in year-to-date redemptions, contributing to increased investor anxiety about inflation and global growth.
Technical indicators suggest a short- to medium-term bullish bias, but ongoing long-term bearish pressure underscores the importance of monitoring key support levels.