22.06.2025 08:54
Following President Trump's announcement of US airstrikes targeting three significant Iranian nuclear facilities, the cryptocurrency market experienced significant volatility. Ethereum, in particular, suffered a sharp 7.7% decline, plummeting to $2,200 – its lowest intraday price since May 9th – before partially recovering later in the day. Bitcoin, while initially dipping below $101,000, largely maintained its stability, trading near previous levels. The crypto market's immediate reaction stemmed from the closure of traditional financial markets over the weekend, leaving digital assets as the primary barometer of investor sentiment.
Caroline Moron, co-founder of Orbit Markets, a liquidity provider in the crypto derivatives market, highlighted the market's apprehension regarding the geopolitical implications. She emphasized investor focus on key support levels: $100,000 for Bitcoin and $2,000 for Ethereum. Moron also predicted that oil prices would become a central concern upon the reopening of traditional markets, anticipating further market shifts. This uncertainty intensified following Trump's confirmation of the strikes on Fordow, Natanz, and Isfahan facilities, specifically highlighting the alleged "bomb-laden attack" on Fordow, a site under international scrutiny for its uranium enrichment activities and suspected nuclear weapons development.
Cosmo Jiang, general partner at Pantera Capital Management, provided further insight into the market's behavior. He explained that pre-existing selling pressure, fueled by escalating tensions and speculation about potential US military action against Iran, had persisted throughout the week. The confirmed attacks, however, he suggested, marked a turning point, allowing prices to find a temporary floor. Coinglass data corroborated this volatility, revealing a staggering $679 million in liquidated cryptocurrency positions within the preceding 24 hours. This included a substantial $554 million in long positions and $67 million in short positions, indicating a dramatic shift in market sentiment. Jiang also noted that… (The ellipsis indicates the original text cuts off, preventing the completion of his observation). The events underscored the sensitive interplay between global geopolitics and the cryptocurrency market's resilience and responsiveness.
