ETH Drops 6.85% to $2,275 as 5,000 Tokens Move to Coinbase Amid Geopolitical Tensions

Ethereum (ETH) experienced a 6.85% price decline over the past 24 hours, with the current price at $2,275.70 on Binance. The price drop is primarily attributed to heightened selling pressure, including a notable transfer of 5,000 ETH from a long-active wallet to Coinbase, as well as broader market volatility driven by escalating geopolitical tensions in the Middle East. Despite recent institutional interest and technical indicators such as a bullish flag and golden cross earlier in the week, ETH’s market cap fell from $281.08 billion to approximately $274 billion, and trading volume reached $22.62–23.67 billion, reflecting increased activity and volatility. The asset remains under short-term pressure, with risks of further downside if negative market sentiment persists.