Ether Nears $2,000 as Brent Drops 7% on US-Iran Strike Pause
Updated
Updated · CoinDesk · Jul 27
Ether Nears $2,000 as Brent Drops 7% on US-Iran Strike Pause
2 articles · Updated · CoinDesk · Jul 27
Summary
Ether rose 0.51% to $1,963 and approached $2,000, while the CoinDesk 20 gained 1.6% over 24 hours even as bitcoin slipped to $65,200 after an early spike.
Brent crude fell more than 7% to about $87 after the U.S. and Iran paused strikes over the Strait of Hormuz, easing inflation fears that had pressured risk assets for weeks.
Fed hike odds for Wednesday dropped to 30.5% from 37.4% on Friday despite 4.1% inflation, helping lift Nasdaq 100 futures 1.36% and S&P 500 futures 0.80%.
DeFi tokens led crypto gains, with AAVE up 9%, LDO 9.39% and ONDO 7%, while PUMP jumped 12.24% and pushed its market value toward $800 million from $570 million two weeks ago.
Derivatives data showed a mixed backdrop: $312 million in liquidations was driven mostly by short closures, ETH futures open interest hit 14.66 million ETH, but broader major-token positioning still looked bearish.