Ethereum (ETH) fell 3.5% to $3,450.12 in the last 24 hours as of 02:29 UTC on April 2, 2026, as mounting geopolitical tensions triggered a broad-based selloff in risk assets.
"The crypto market is reacting to the same macro pressures as traditional markets," said a researcher from a leading crypto analytics firm. "When there's a flight to safety, altcoins like Ethereum are often the first to be sold."
The price drop is part of a wider downturn in the cryptocurrency market, with Bitcoin (BTC) also down 2.8% over the same period. The total crypto market capitalization has decreased by 3.1% to $2.4 trillion, according to CoinGecko data. The sell-off has been linked to reports of escalating geopolitical instability in Eastern Europe, which has led to a risk-off sentiment among investors.
The decline in Ethereum's price could signal a period of increased volatility for the broader crypto market. Investors will be closely watching for any further escalation in geopolitical tensions, which could lead to additional selling pressure. The next key support level for Ethereum is at $3,200, a level last seen in late March.
This article is for informational purposes only and does not constitute investment advice.
