Ethereum Slips Below Key Support as Global Tensions Shake Crypto Confidence
On June 22, 2025, Ethereum (ETH) tumbled to around $2,177, marking a steep decline fueled by rising geopolitical tensions and a shift in investor sentiment. The escalating conflict between the U.S. and Iran has sparked fear across global markets, pushing traders away from riskier assets like cryptocurrencies. Ethereum saw a surge in exchange inflows, with over 72,000 ETH moved to trading platforms — a clear signal of heightened selling intent. Simultaneously, over $163 million in long ETH futures were liquidated within 24 hours, deepening the market downturn. Technically, ETH broke below its critical $2,300 support zone, raising concerns about a potential slide toward the psychological $2,000 level. On-chain activity has also softened, with declining DeFi usage and reduced demand for smart contract execution. Despite these short-term pressures, Ethereum’s fundamental role in powering decentralized applications remains intact. However, in the current climate of uncertainty, price action is being dictated more by macro headlines than blockchain innovation.