Ethereum Loses 6% Value in Bear Session

Quick overview

The Ethereum (ETH) supply has fallen to lows not seen since 2016, and the coin is down 6% as the crypto market feels pressure from rising oil and gas prices.

Thursday has been a bearish session for the cryptocurrency and stock markets thanks to sharply rising oil prices. As the Iran conflict appears to be extending further, pressure is being placed on investors to tread carefully, and inflation is a looming problem for the crypto market.

Now, Ethereum is down to $2,048 (ETH/USD) and has lost much of this week’s gains. The coin had hit a high of $2,196 earlier this week but then faltered on Thursday as the Iran conflict changed once again.

New Ethereum Price Prediction

Because the coin’s upward progress has been halted, investors may worry if the coin can recover from its losses and keep moving higher to hit some of those earlier ETH price projections that were spurred by bullish trends. The entire crypto market took a hit Thursday, but that does not mean that all of the upward momentum has been lost.

Ethereum retreated today, and the ETH rate is back to where it was before this week’s gains, but at least the coin has not fallen below $2,000. That is crucial for market sentiment to remain high. That psychologically important level means so much for Ethereum’s investors right now. Since the crypto market spent much of the last few months trending bearish and losing most of its 2025 gains, the market needs to stay above key levels to retain strong market sentiment.

Ethereum is still in a good place to be able to hit some of the predicted highs later this year. It is on track to hit the crucial $2,393 level later this year, which has been a stronghold of resistance. If Ethereum can do that, it will be less likely to slip back close to the $2K level and may be able to set a new record high by 2027.

The ETH trade volume has suffered little this week, now sitting at a healthy $17.6 billion and down just 3.6% from the previous day. This tells us that even though the coin is down substantially today compared to Wednesday’s high, investor interest remains elevated and a quick recovery is very likely. Swift fluctuations in the crypto market and in Ethereum in particular have been mostly caused by volatile gas and oil prices lately. We anticipate that the conflict in Iran will continue to cause these fluctuations, but the coin is showing signs of strength that tell us it may come out the other side of the conflict higher than when it went in.

The Iran conflict has lasted for about three weeks now, and Ethereum has gained more than 10% in the last month. Investors may want to jump on this current ebb and profit from the inevitable surge to come.

ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.

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