A brutal sell-off wiped out weak ETH positions before a massive rebound. With new tariffs, whale moves, and network upgrades, is Ethereum gearing up for a bullish 2025?
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Diplomatic talks spark ETH recovery
Ethereum’s (ETH) price has had a rough few days, with a sharp drop to $2,150 on Feb. 3, the lowest it has been since September 2024. The decline came as financial markets reacted to new U.S. tariffs, which took effect on Feb. 1.
The U.S. imposed 25% tariffs on imports from Canada and Mexico and 10% on Chinese goods, leading to uncertainty across global markets, including crypto.
Within hours, diplomatic efforts were underway. Canadian Prime Minister Justin Trudeau announced on X that he had spoken with Donald Trump and secured a temporary 30-day pause on the tariffs while both countries worked on a broader border security agreement.
Mexico took a similar approach, with President Claudia Sheinbaum confirming that tariffs would be put on hold for a month as part of ongoing discussions on border security.
Following these developments, market sentiment improved, and Ethereum’s price has rebounded to $2,700 as of this writing on Feb. 4.
At one point, ETH briefly touched $2,900 after Trump halted tariffs on Can
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Author: Ankish Jain
