ETH edges up 0.14% in an hour: as Middle East conflict escalates and safe-haven sentiment spreads, a stronger US dollar pressures the overall crypto market

From 17:00 to 18:00 (UTC) on July 13, 2026, ETH experienced narrow-range consolidation within one hour, with a gain of +0.14%. The price range was 1770.17–1776.46 USDT, and the amplitude was 0.35%. Although there was a slight short-term rebound, over the past 24 hours, ETH fell from a high of $1,845.81 to the current $1,758.52, a decline of 3.37%. The overall trend remains weak, and the intraday amplitude of about 5% indicates increasing market uncertainty.

The main driver behind this move is risk-averse sentiment spillover triggered by escalation of military conflicts in the Middle East. The rising risk of a Strait of Hormuz blockade caused a sharp jump in the U.S. dollar index, while also boosting inflation expectations. Funds rotated out of risk assets into safe-haven assets such as the U.S. dollar. BTC also declined by 1.45%, confirming that the pressure is across the crypto market rather than an ETH-specific event.

Additionally, mining firm BitFuFu sold 184 BTC, increasing market supply pressure. Although this action targeted BTC directly, it transmitted to major assets like ETH through correlation effects. Expectations that the Bank of Japan could raise its economic growth outlook strengthened the outlook for yen weakness, further reinforcing tighter global interest rate expectations, which indirectly weigh on non-yielding assets like crypto. Order book checks detected a large buy wall at $1,758.52 of 4.19 units, accounting for 62% of the first five levels of depth, suggesting some capital is trying to defend the price. However, the overall order book depth is only about 13.2 units, indicating extremely low liquidity and making the price vulnerable to impacts from medium-sized orders.

ETH has now broken below the 16:00 K-line close of $1,772, and the short-term trend is bearish. Immediate support to watch is $1,753 (the 24-hour low). If it is lost, it could accelerate the downside. Developments in the Middle East, the U.S. dollar index trend, and whether BTC can hold the $63,000 support will be key near-term indicators. Investors should also be alert to the risk of price slipping in a thin-liquidity environment.