Ethereum (ETH) followed a similar pattern, dropping toward $1,800–$1,900 amid the risk-off sentiment but showing signs of stabilization/recovery around $1,950–$1,960, with modest gains in recent hours.

Overall crypto market cap sits around $2.3–$2.4 trillion, with a slight positive shift after the volatility.

Geopolitical Impact

The primary driver of overnight volatility was the escalation involving U.S. and Israeli military actions against Iran, including airstrikes and reported explosions in Tehran. This caused an immediate risk-off move across crypto (similar to broader markets), wiping out billions temporarily. Bitcoin erased much of those losses as traders viewed it as a$ETH "geopolitical shock already absorbed."$