From 17:45 to 18:00 (UTC) on July 13, 2026, ETH experienced a sharp 0.81% drop within 15 minutes, with a price range of 1,753.28 to 1,769.52 USDT and an amplitude of 0.92%. Over the past 24 hours, ETH has fallen from a high of $1,845.81 USDT to the current $1,758.52 USDT, with an intraday decline of 3.37%. The volatility range is approximately 5%, higher than recent normal levels, indicating a significant increase in market uncertainty.
The primary driver of this price movement is escalating military conflict in the Middle East. Attacks in the region have raised concerns about a blockade of the Strait of Hormuz. The DXY surged, while inflation expectations also increased. Capital has flowed out of risk assets into the dollar and safe-haven assets. As a high-beta asset, ETH faced clear pressure; BTC also declined by 1.45% in tandem, suggesting this is a systemic behavior across the crypto market rather than an ETH-specific event.
Additionally, mining firm BitFuFu’s sale of 184 BTC further increased market supply pressure. While directly targeting BTC, the decline transmitted to mainstream assets such as ETH. News that the Bank of Japan may raise its 2026 fiscal year economic growth outlook has also boosted expectations for a weaker yen, further reinforcing the global interest rate environment skewed toward tighter conditions, which indirectly pressures non-yielding assets like crypto. With multiple factors overlapping, they resonated and amplified the short-term selling pressure.
Current order book depth is extremely thin (total buy and sell only about 13.2 units), and liquidity risk is significant. The $1,753 level—24-hour low—serves as near-term support; if broken, it could accelerate the downside. At $1,758.52, there is a large buy wall (4.19 units, accounting for 62% of the top five order book levels), and in the short term, there may be buy-side defense. All news-related correlation scores are below 0.5, with moderate-to-low attribution confidence. Traders should monitor the DXY trend, whether BTC can hold the $63,000 support, and further developments in the Middle East situation.
