More than $190 billion has exited crypto markets over the past 12 hours, sending total capitalization tumbling over 7% to $3.36 trillion. The crypto crash followed news reports that Israel had launched a missile attack on Iranian nuclear sites in a pre-emptive strike. Israel has declared a state of emergency, saying the country expected counter-attacks “in the immediate future,” reported the BBC. Meanwhile, Iranian media claims that residential areas in Tehran were hit and civilians were among those killed. BREAKING: Iran says it will respond “harshly” against Israel and the US following tonight’s attacks. — The Kobeissi Letter (@KobeissiLetter) June 13, 2025 Crypto Assets Crash Liquidation data from Coinglass shows that there has been $1 billion in liquidations over the past 12 hours, and almost 250,000 traders were liquidated over the past 24 hours. More than 90% of those positions were long, and the majority of them were in Bitcoin and Ethereum. Bitcoin led the losses , tanking hard and fast in a $5,000 dump from an intraday high of $108,350 to bottom out at $103,000 during Asian trading on Friday morning. The asset found support there and had reclaimed $104,000 at the time of writing, remaining within its six-week range-bound channel. Ethereum prices crashed more than 9%, tumbling from $2,760 to bottom out at $2,470 in a matter of hours. The asset had crept back over $2,500, where solid support lies at the time of writing. Altcoins suffered even more pain with Solana getting smashed 12% in a fall back to $140, Dogecoin dumping 10% in a dip to $0.17, and Cardano crashing 9.5% in a slide to $0.62. Other altcoins deep in the red include Sui, Chainlink, Avalanche, Shiba Inu, and Hedera. Nevertheless, losses were not so bad for BNB and Tron, which dipped a couple of percentage points. Total crypto market cap is down 7.9% to $3.34T amid Middle East tensions. Meme and Layer 2 categories saw the steepest declines, each falling over 12%. View breakdown here: https://t.co/YqL9362eES pic.twitter.com/58V3Ob712L — CoinGecko (@coingecko) June 13, 2025 Bullish Background Remains Despite the geopolitical-driven drop, a bullish background prevails, so a rebound could be likely as Bitcoin and its brethren are often seen as safe havens during periods of turmoil. “As geopolitical conflicts rise, investors often flee to fiat-based sovereign debt for ‘safety’. This, of course, is ultimately a mistake, as inevitable money printing and monetary debasement soon follow. Smart investors will flee to assets that cannot be debased. The smartest will buy Bitcoin,” said former hedge fund manager James Lavish. The pro-crypto narrative from the United States continues to strengthen with the Securities and Exchange Commission withdrawing a tranche of Gary Gensler-era rules on June 12. Additionally, the US and China struck a trade deal this week as tariff tensions eased. However, benchmark Brent crude oil prices spiked by more than 8% and gold prices ticked up to $3,440 per ounce on the specter of all-out war. The post Bitcoin Price Crashes Toward $103K, Crypto Markets Bleed S200 Billion After Israel Strikes Iran appeared first on CryptoPotato .
Crypto Potato 2025-06-13 08:10
According to recent data from Coinglass, the total Bitcoin contract open interest has declined to below $70 billion, currently standing at $69.878 billion. This represents a notable 4.4% decrease within
CoinOtag 2025-06-13 08:03
According to recent technical analysis, Ethereum (ETH) may be gearing up for a major breakout that could propel the cryptocurrency close to the $4,200 mark. Meanwhile, ETH continues to attract growing institutional interest, with Ethereum exchange-traded funds (ETFs) outperforming their Bitcoin (BTC) counterparts. Ethereum Headed For A Breakout? In a recent X post, noted crypto analyst Titan of Crypto highlighted that ETH is climbing within a massive weekly broadening wedge structure. The analyst shared the following chart and suggested that ETH could be targeting the $4,200 level – marking the top of the wedge. For the uninitiated, a broadening wedge is a chart pattern characterized by diverging trendlines, where price makes higher highs and lower lows, forming a megaphone-like shape. It typically indicates increasing market volatility and can signal a potential breakout, with the direction depending on the prevailing trend and breakout confirmation. Related Reading: Ethereum Gains Momentum Amid Flat Funding Rates – Is This A Healthy Uptrend? Fellow crypto analyst Master of Crypto echoed a similar outlook, stating that ETH is “setting up for a big move,” especially with over $2.2 billion in short positions clustered near the $3,000 level. If Ethereum breaks above $3,000, it could trigger a short squeeze, potentially accelerating ETH’s rally. At the time of writing, ETH is trading 43.7% below its all-time high (ATH) of $4,878, recorded in November 2021. Capital flows also indicate rising institutional interest in Ethereum. Crypto market commentator Ted Pillows recently pointed out that spot ETH ETFs attracted $240.3 million in inflows yesterday, compared to $164.6 million for spot BTC ETFs. The stronger performance of ETH ETFs suggests that capital may be rotating from Bitcoin to Ethereum. It’s worth noting that while BTC is up 54% since June 2024, ETH is still down 24.6% during the same period. Crypto trader Merlijn the Trader shared the following monthly BTC/ETH chart showing two consecutive red candles, signaling a potential shift in momentum as BTC weakens relative to ETH. The trader noted that a similar capital rotation in 2020 preceded a “monster altseason.” Things Look Positive For ETH While altcoins like Solana (SOL), Tron (TRX), and SUI created fresh ATHs in 2024, ETH’s performance did not live up to expectations. As a result, the broader sentiment in the Etheruem ecosystem took a hit. Related Reading: Ethereum ‘Insanely Undervalued’ As Accumulation Addresses Keep Stacking – Is A Rally Imminent? However, 2025 appears to be ushering in a more favorable outlook. On-chain data reveals that ETH faces no major resistance until the $3,417 level. Additionally, ETH recently flashed a golden cross on the daily chart – a bullish technical signal that could indicate an impending rally. At press time, ETH trades at $2,756, down 1.7% in the past 24 hours. Featured image from with Unsplash, charts from X and TradingView.com
NewsBTC 2025-06-13 08:00
The cryptocurrency market experienced a sharp decline on June 13, driven by escalating geopolitical tensions in the Middle East, significantly impacting major digital assets. Following Israel’s military strikes against Iran,
CoinOtag 2025-06-13 07:50
Bitcoin’s recent outflows from Binance and increased accumulation by long-term holders signal a potential reduction in sell pressure, setting the stage for a bullish market phase. Short-term holders remain largely
CoinOtag 2025-06-13 07:23
COINOTAG News reported on June 13 that former U.S. President Donald Trump reaffirmed his stance against Iran acquiring nuclear weapons. During a recent statement covered by Fox News, Trump emphasized
CoinOtag 2025-06-13 07:05
