Ethereum Price Drops Amid Middle East Tensions and Market Volatility

The cryptocurrency market is known for its volatility, but recent events have pushed Ethereum's price down sharply. The asset fell to $1,859 after reports confirmed a coordinated military strike on Iran by Israel and the United States.

This sudden downturn was not just limited to ETH. High-leverage traders were also affected, with Machi Big Brother being one of the notable examples. His Ethereum position was liquidated twice in the same day due to the rapid decline in market value.

Data from Lookonchain shows that Machi's account dropped to around $13,000 after the second liquidation. This loss comes only four days after he allocated a significant amount of funds to Ethereum positions.