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Ethereum drops below $2,000 amid US-Iran tensions and crypto market sell-off

Market News
28 May 2026
Coinpaper
View Source
Bearish
pluang ai news

Ethereum's price fell below the key $2,000 level for the first time since March 29, driven by renewed US-Iran hostilities that sparked a broad crypto sell-off and pushed traders into defensive positions. The wider crypto market lost about $80 billion in value following fresh military strikes and retaliations, with Bitcoin also hitting multi-week lows. Despite the short-term price drop, Standard Chartered remains bullish on Ethereum's long-term prospects, citing strong internal network metrics and growth potential in stablecoins and tokenized real-world assets. Ethereum's near-term price direction depends on whether it can hold support near $1,873 and reclaim $2,060 to ease selling pressure.

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