US-Iran Conflict Shakes Ethereum Markets as Energy Costs Surge

Escalating US-Iran tensions, including a closed Strait of Hormuz, have driven energy costs higher and rattled Ethereum markets, reversing earlier gains. ETH had rallied over 50% in early April to the $2,400–$2,430 range amid easing geopolitical risks, sparking brief optimism for $4,000 targets. However, prediction markets now show bearish sentiment: 4% odds for $10,000 by Dec. 31, 2026, short-term contracts resolving near 100%, and thin liquidity where $1,328 can shift prices 5 points. Catalysts include conflict resolution, SEC news, or network upgrades.