Krutika Adani
Amid rising geopolitical tensions between Iran and Israel, investors across the world have been feeling scared that this conflict might lead to a global war.
As several investors withdraw money from Ethereum ETFs, Grayscale has led a series of continuous outflows.
In a historic move, Japan’s Central Bank raised interest rates by 0.25%, which might soon end the era of negative interest rates and high liquidity in markets.
All these reasons combined caused a severe dent in the price of Ethereum, which lost 21% in a day by press time and 33% over the week.
With Ethereum crashing much below its last support levels, a recovery in price to $3000 and above is only possible when the above factors cool down.