A brutal market sell-off has liquidated $1.15 billion from 247,000 traders in just 24 hours. Bitcoin plunged to $103K, while Ethereum dropped 10% to $2.4K, triggering a wave of forced closures in leveraged positions.
What Triggered the Crash?
Geopolitical Tensions: Israel’s airstrike on Iran escalated Middle East conflicts, spooking investors.
Macroeconomic Pressure: Disappointing U.S. CPI/PPI data reduced hopes for a Fed rate cut, adding to the sell-off.
Liquidation Domino Effect: Panic selling worsened losses, with $422M in Bitcoin long positions wiped out.
Statement No. 1 of the General Staff of the Armed Forces
In the early hours of Friday, 23 Khordad (June 12), the Zionist regime carried out an aggressive and reckless attack on several areas of the country, including both civilian and military zones. This assault resulted in… pic.twitter.com/TyQtkxPMmU
The Crypto Fear & Greed Index dropped to 54 (Neutral), signaling fading confidence. Meanwhile:
Gold surged 1.2% to $3,445.40.
Oil spiked 10% (Brent at $76.48).
Silver rose 0.30% to $36.40.
This shift challenges Bitcoin’s “digital gold” narrative, as traditional safe havens outperform.
Will Bitcoin Recover?
Israel attacks Iran. Oil prices jump 5% while S&P futures fall 1.5%. In response, investors seeking a safe haven buy gold, sending its price up 0.85%. Meanwhile, investors dump Bitcoin, pushing its price down 2%. How can anyone consider Bitcoin to be a digital version of gold?
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