Ethereum begins to rebound after Wednesday’s dip linked to the conclusion of the Iran‑U.S. cease‑fire.
Written by:
Timothy St. John
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Thursday, July 9, 2026
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2 min read
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Last updated: Thursday, July 9, 2026
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Key Points
- Ethereum (ETH) has swung between $1,696 and $1,822 this week amid market jitters and economic data.
- Nearly 100,000 addresses acquired ETH around the $1,500 low, underscoring sustained long‑term buying interest.
- The Ethereum Fear & Greed index slipped from 57 to 43, signalling deeper anxiety among traders.
- Thursday’s trading volume for ETH fell 30% compared with the prior day, reflecting strong selling pressure.
Ethereum buyers and sellers exert opposing pressure, keeping the price relatively flat as large deposits and withdrawals occur this week.
Over the past week, ETH/USD dropped to $1,696 before climbing to $1,822 as volatility drove sharp reversals. The price movement was influenced by heightened concern over the collapsed Middle‑East cease‑fire and by robust economic signals from the latest jobs report and equity market rallies.
ETH/USD
Binance data revealed that roughly 100,000 wallets purchased Ethereum when it touched a recent low of $1,500. This activity suggests the asset remains attractive as a buying opportunity during downturns and retains considerable long‑term upside.
Market Sentiment Shows Growing Concern
There is no clear consensus on Ethereum’s short‑term direction, as evidenced by substantial inflows and outflows. Nevertheless, apprehension is rising. A week ago the Ethereum Fear & Greed index stood at 57; it has now fallen to 43, entering deeper fear territory. Although the index currently reads neutral, it indicates that traders are increasingly uneasy about Ethereum’s near‑term trajectory.
Ethereum slipped 1.6% on Wednesday amid a broader bearish market move. On Thursday, however, the token began to recover, climbing above $1,750 after falling to $1,713 the previous day. The bullish momentum is strengthening, yet it remains uncertain whether this upward trend will persist.
The market was jolted on Tuesday when President Trump declared the Iran‑U.S. cease‑fire over. Crypto traders hastily liquidated positions, fearing a steep decline. Nonetheless, the pullback from the July highs was modest, and most leading digital assets had recovered by Thursday morning.
The swift rebound highlights the resilience of Ethereum and other top cryptocurrencies at present, though further strain from ongoing Middle‑East tensions could alter this picture. Already, selling pressure is evident, with Ethereum’s Thursday trading volume down 30% from Wednesday’s level.
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.
