#Ethereum✅ #Ethereum The price of Ethereum (ETH-USD) has recently declined, trading at around $2,665 USD.
The main factors behind this drop are:
Geopolitical tensions and a risk-averse environment: Stalled talks between the United States and Iran have driven oil prices higher.
This has created a risk-averse macroeconomic environment, prompting investors to pull capital from volatile assets like cryptocurrencies and seek refuge in defensive assets.
Cascade liquidation effect (Long Squeeze): After attempting to break through the $2,780–$2,800 USD resistance level, forced liquidations of leveraged positions were triggered in the derivatives market.
This added significant technical selling pressure in the open market.
Global macroeconomic
factors: Rising U.S. Treasury yields and the impact of the Federal Reserve's interest rate hikes continue to weigh on the broader crypto ecosystem.
The main factors behind this drop are:
Geopolitical tensions and a risk-averse environment: Stalled talks between the United States and Iran have driven oil prices higher.
This has created a risk-averse macroeconomic environment, prompting investors to pull capital from volatile assets like cryptocurrencies and seek refuge in defensive assets.
Cascade liquidation effect (Long Squeeze): After attempting to break through the $2,780–$2,800 USD resistance level, forced liquidations of leveraged positions were triggered in the derivatives market.
This added significant technical selling pressure in the open market.
Global macroeconomic
factors: Rising U.S. Treasury yields and the impact of the Federal Reserve's interest rate hikes continue to weigh on the broader crypto ecosystem.