Bitcoin, Ethereum, XRP, Dogecoin Drop As Middle East Tensions Rise: Will BTC Still Hit $130K By October? – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)
Cryptocurrencies are trading sharply lower amid rising geopolitical tensions. Fears of a broader Middle East conflict escalated after President Donald Trump hinted at a possible U.S. involvement in the Iran-Israel conflict. As global markets reel from rising war anxiety, concerns over economic and financial instability are bleeding into the crypto space, triggering a risk-off sentiment across major digital assets.
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 116.4%, and daily active addresses growing by 18.1%. Transactions greater than $100,000 are up from 7,374 to 11,517 in a single day. Exchanges’ net flows are down by 6,132.8%.
- Coinglass data reports that 151,244 traders were liquidated in the past 24 hours, with a total liquidation value of $513.47 million.
- Santiment data shows despite a drop in Bitcoin’s price, BTC ETFs are on a 5-day net inflow streak with more than $1.46 billion in money moving into BTC ETFs.
Notable Developments:
Top Losers:
Disclosure: 82% of retail CFD accounts lose money
Trader Notes: Crypto trader Carl Moon believes Bitcoin may consolidate before a potential dip, but reassures that the overall bullish structure remains intact. He advises investors to stay confident and treat any pullback as a buy-the-dip opportunity.
However, Stockmoney Lizards reflected on their earlier bullish call and noted that while price action looked strong yesterday, today’s rejection signals possible short-term range-bound trading. Still, the macro picture remains bullish, with their $130,000 target by October 2025 standing firm.
Daan Crypto Trades points to rising tension within Bitcoin’s current monthly range, noting it’s primed for a breakout—likely before the end of June. Weekly highs and lows are also being squeezed, and he expects a major move within 1–2 weeks, urging traders to watch key support/resistance levels closely.
Michael van de Poppe highlights that Bitcoin is tapping liquidity zones, which could trigger further downside, but sees it as a prime accumulation area. With the FOMC meeting ahead, he notes a historical trend where Bitcoin tends to bottom the day before, hinting at a possible rebound very soon.
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