ETH Surges 8% After Flash Crash: Whale Buys, ETF Optimism, and Record Volumes Fuel Rebound

Ethereum (ETHUSDT) experienced significant price volatility in the last 24 hours, primarily driven by widespread liquidations following heightened geopolitical tensions in the Middle East between Israel and Iran. This led to a flash crash, with ETH briefly dropping to $2,224 before quickly recovering as buyers entered the market, supported by a surge in trading volumes—up to five times the normal rate. Additional factors influencing the rebound include substantial institutional inflows, optimism regarding potential SEC approval of ETH ETFs, and notable whale activity such as a $39 million ETH purchase, which contributed to a rapid price recovery and bullish sentiment for a possible short-term rebound.

As of June 23, 2025, Ethereum is trading at $2,412.64 on Binance, reflecting an 8.13% increase over the past 24 hours from an opening price of $2,231.16. Trading volume remains elevated, and the market cap is stable within the $271.98B–$294.58B range, positioning ETH among the top five cryptocurrencies by market capitalization. The market continues to show strong liquidity and resilience despite recent volatility.