Ethereum suffers a heavy blow from Israel. Is the geopolitical crisis creating volatile profit opportunities for the cry

Bản gốc | Odaily Planet Daily ( @OdailyTrung Quốc )

Author | Dingdang ( @XiaMiPP )

This morning, a sudden black swan broke the brief calm in the financial market.

As the news of Israels airstrike on Iran came out, the mật mãcurrency market suffered a heavy slump. According to OKX market data, the price of BTC fell below $103,000, a 24-hour drop of 3.3%; ETH, which had finally risen recently, fell below $2,450, a drop of 9.2%; and the price of SOL, which stood up due to the ETFs positive news, has reached around $140, a drop of 9.5%.

The derivatives market is in mourning. According to Đồng xu thủy tinh data, the total liquidation of the entire network in the past 24 hours was $1.159 billion, of which the vast majority were long orders, amounting to $1.084 billion. In terms of currency distribution, BTC liquidated $458 million and ETH liquidated $287 million.

The market went from rebound to collapse in just one night.

Escalation of tensions between Israel and Iran: trigger for decline

This decline was not driven by technical factors, but was driven by typical geopolitical emergencies .

Israel launched an airstrike on Iran, and the commander of Irans paramilitary Revolutionary Guard, Salami, was reportedly killed in the attack. According to Jinshi, several senior Iranian officials have also become targets of Israels attacks, including the Chief of Staff of the Armed Forces, Mohammad Bagheri. Israeli Defense Minister Katz said that missile and drone attacks against Israel and its civilians are expected in the near future. At present, Israel has launched 5 rounds of airstrikes against Iran.

Iranian official media also conveyed a statement from the Iranian Armed Forces General Staff, saying that Israel and the United States will pay a very heavy price. In response, the United States and Israel will be severely hit. According to Saudi media citing Israeli media reports, the Israeli city of Tel Aviv was attacked, including 10 nuclear facilities.

Trump and his top foreign policy advisers discussed at Camp David on Sunday and Monday how to reach an Iran nuclear deal without escalating tensions, according to people familiar with the matter. Iran was one of several foreign policy topics and meetings held during the U.S. evacuation. Administration officials appeared determined to reach a deal through diplomacy before the Israeli airstrikes.

US Middle East envoy Witkoff was originally scheduled to go to Oman for the sixth round of negotiations, but the prospects for the negotiations were overshadowed after the airstrike. Trump said on Truth Social: We remain committed to resolving the Iranian nuclear issue through diplomatic means! My entire administration has been instructed to negotiate with Iran. They can become a great country, but they must first completely give up the hope of obtaining nuclear weapons.

US Senator Chris Murphy said the attack on Iran was clearly intended to derail the Trump administrations negotiations with Iran and risk a regional war with potentially catastrophic consequences for the United States.

This geopolitical storm not only made the situation in the Middle East tense, but also hit the global risk asset market hard. The decline of US stock index futures widened, with Nasdaq futures falling by 2% . The recent rebound in the crypto market was reversed, while safe-haven assets took advantage of the situation to rise. The spot gold price broke through $3,400/ounce today , up $55, with the highest daily increase exceeding 1.65%, and gold-related assets also rose collectively.

Data Observation: Is this a bargain hunting opportunity for ETH?

Although the crypto market is still in shock, ETH has quietly become the focus of capital inflows against the trend. On-chain data reveals that institutions and whales are adding positions to protect the market .

According to the monitoring of on-chain analyst Yu Jin, the whale that had made two accurate band profits on ETH has spent a total of $174.1 million to buy 65,325 ETH at an average price of $2,665 after todays decline. It is currently in a floating loss state.

Lookonchain data shows that an address that may be related to ConsenSys also bought 2,825 ETH in the OTC market 4 hours ago, with a total amount of US$7.48 million. In the past two weeks, the address has accumulated more than 160,000 ETH (with a total value of US$421 million).

Some whales even choose to leverage their trading. According to The Data Nerd, the address starting with 0x109 borrowed 5 million USDT from Aave and bought 1,844 ETH (about 4.6 million USD). Afterwards, the address deposited all the ETH into Aave, and currently has a total of 23,786 AETHWETH in his wallet.

These actions do not seem to be a spur-of-the-moment bet on a rebound. Instead, they are clear signals that on-chain data resonates with the real market: ETH is being embraced again by big money .

Why ETH? Why now?

The market is not without clues behind ETHs counter-trend accumulation.

Since the beginning of 2025, the Ethereum Foundation has initiated a rare reform to improve operational efficiency through self-slimming and team reorganization. This move was interpreted by the market as a signal that the Ethereum ecosystem is moving towards more mature and sustainable development.

After MicroStrategy included BTC in its balance sheet, ETH has also become a new favorite for corporate financial reserves. SharpLink Gaming, a US-listed company, recently announced that it would include ETH in its asset allocation. In addition, according to Bloomberg, at least three Nasdaq-listed companies are evaluating ETH as a long-term investment asset in an attempt to replicate MicroStrategys growth flywheel model. This trend shows that traditional finances recognition of ETH is deepening.

According to Deribit data, the trading volume of ETH call options has continued to rise since June, indicating that the markets expectations for ETHs short-term rebound have increased.

Nguồn hình ảnh: @Amberdataio

Who is gathering the “ETH bulls”?

On June 11, a wallet suspected to be associated with Cumberland withdrew 10,200 ETH (about 28.54 million US dollars) from Binance. The address had deposited 30 million USDC to Binance for opening a position 20 hours ago, when the ETH price was in the range of 2,790 US dollars.

The most vocal ETH bull in this round (especially in the Chinese-speaking world) is Trend Research. The agency has been long ETH since ETH reached $1,400 and currently holds 142,000 ETH. Its founder, Jack Yi, has 100,000 ETH options long positions.

Even more dramatically, ETH became the hackers financial target : in April 2023, it stole a variety of tokens worth $23 million at the time from the Bitrue exchange, and then exchanged these assets for ETH, but sold 4,207 of them at a price of $3,885 in exchange for 16.345 million DAI.

On June 12, the hacker transferred 5,111.5 ETH and 16,345,000 DAI to a new address, and then bought 16,345,000 DAI for 5,917.8 ETH at a price of $2,762. Then, all the 11,029.3 ETH (30.46 million USD) were washed away through Tornado.

In other words, the $23 million in assets stolen from Bitrue by hackers were eventually exchanged for 12,079 ETH and transferred through Tornado. At this time, the value became $32.36 million, an increase of $9.36 million from the initial value.

Chợ Focus: Where will BTC stop falling? Can ETH break through?

Caroline Moren, co-founder of crypto derivatives liquidity provider Orbit Markets, analyzed: Cryptocurrencies reacted negatively to the news of Israels attack on Iran, in line with the performance of major risk assets. We expect BTC to find technical support around $101,000, but in the short term, geopolitical news will still be the dominant factor in price movements.

The situation in the Middle East is still highly uncertain, and risk assets are unlikely to recover in the short term. However, ETHs counter-trend accumulation undoubtedly sends a signal: the market is still looking for certain assets, and ETH may be emerging from the copycat resonance.

In contrast, the situation of altcoins is not optimistic. Rui, investment manager of HashKey Capital, wrote: The liquidity of altcoins has reached a freezing point. There are no buy and sell orders on the market, and no one takes the orders even if there is good news. New coins fall within 30 seconds of listing, and everything turns into a negative decline.

However, there is good news. Recently, Paul Atkins, chairman of the U.S. Securities and Trao đổi Commission, said that the SEC is developing an innovation exemption policy for DeFi platforms. Atkins said that he has asked staff to study and modify the rules to provide regulatory exemptions for on-chain financial systems, allowing entities under the jurisdiction of the SEC to quickly launch on-chain products. If this policy is implemented, it means the relaxation of DeFi regulation, and it will directly benefit the expansion of the Ethereum ecosystem and enhance the intrinsic value of ETH.

However, this also raises a key question: Does the rise of ETH herald the return of the altcoin season? The answer may not be optimistic. At present, ETHs ability to attract money depends more on the large-scale support of institutions. So, if even ETH has to rely on institutional support, what will be left for other altcoins?

This article is sourced from the internet: Ethereum suffers a heavy blow from Israel. Is the geopolitical crisis creating volatile profit opportunities for the crypto market?

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