Ethereum Price Drops Amid Israel-Iran Tensions; Machi Big Brother Liquidated Again

Geopolitical tensions are once again shaking the crypto market, with Ethereum being one of the largest losers. The Ethereum price has taken a sharp hit, slipping by about 9% in a day, after the US and Israel launched missile attacks on Iran.

Amid the rising Israel-Iran tensions, Ether traders like Machi Big Brother faced significant losses. Machi’s aggressive ETH strategy backfired, with multiple new positions ending in rapid liquidations amid the Ethereum price crash.

ETH Falls 8% Following US-Israel Strike on Iran

According to the latest Reuters report, the US and Israel have launched an attack on Iran today. The development has dragged the Middle East into renewed confrontation. It has further dimmed hopes for diplomacy over Iran’s ongoing nuclear tensions with Western powers.

“The State of Israel launched a pre-emptive attack against Iran to remove threats to the State of Israel,” Defence Minister Israel Katz stated. The US has also aided Israel in the missile attack against Iran, as President Donald Trump stated the country has begun “major combat operations.”

In response to this rising geopolitical tension, the Ethereum price saw a major pullback. As of press time, the ETH price is marked at $1,859, down by a notable 8.79% in a day alone. The token has lost 6% of its value during the last week, while it has dropped 37% during the past month. The present downturn creates extreme concern as it follows the Ethereum price’s recent surge past $2k.

The attack happened after Israel and Iran battled for 12 days through air raids during their June conflict. It also follows repeated warnings from the US and Israel that further strikes would follow if Tehran continued advancing its nuclear and ballistic missile programs.

Reports state that Iran’s Supreme Leader, Ali Khamenei, has been moved from Tehran to a secure location. Explosions were heard across the capital on Saturday, while sirens sounded throughout Israel around 08:15 local time. The military described this as a precautionary alert against a potential incoming missile attack.

Machi Suffers Heavy Losses After 25x Ether Liquidations

According to a Lookonchain X post, veteran trader Machi Big Brother has faced multiple setbacks amid this Ethereum price downtrend. His high-leverage Ethereum trades were liquidated during the market dip.

Earlier today, Lookonchain reported that Machi’s ETH position was fully liquidated, bringing his account down to $91k. He later opened another 25x long position on 925 ETH, worth about $1.78 million, with a liquidation price set at $1,866.02.

Soon, Machi was liquidated again, following the US-Iran war. With this sharp liquidation, his total holdings have now come down to a mere $13k. This development comes just four days after he invested $245K in ETH.