Quick overview
- 240 billion dollars were lost on the cryptocurrency market in last week, with total capitalization down 1.26% to 3.21 billions of dollars.
- Bitcoin dropped by 2% to $ 103,127, while altcoins like Ethereum and Solana experienced decreases of 10% and 11%, respectively.
- Geopolitical instability, profits by long -term holders and liquidations of leverage positions lead to the slowdown in the market.
- The market remains vulnerable to external shocks, leading to a feeling of fragile short -term investor.
The global cryptocurial market has landed this week, with total capitalization down 1.26% to 3.21 dollars on June 21. It is 240 billion dollars erased in 7 days. Bitcoin (BTC) fell to $ 103,127 to 2% for the week. Altcoins have suffered again: Ethereum (ETH) -10% at $ 2456, Solana (soil) -11%.
The slowdown is supplied by geopolitical instability, long -term holders taking profits and leverage positions have liquidated.
Geopolitical fears scary investors
The Israeli-Iranian conflict is the greatest fear of the market. Investors are concerned about the American intervention, in particular after the warning of former President Donald Trump to Iran concerning nuclear transactions.
This has created a risk environment with capital fleeting high volatility assets such as cryptocurrencies. As tensions have intensified:
- Bitcoin from $ 108,000 to $ 103,000 in a week
- Ethereum, Solana, Dogecoin down more than 10%
- Altcoin index at 22, which means that the domination of bitcoin increases
Geopolitical crises always lead to greater volatility in traditional and cryptographic markets while investors are looking for security.
Exit of whales, liquidations hover
Adding to the sale pressure, the whales sell to make profits. Glassnode data shows portfolios containing BTC for 6 to 12 months sold more than $ 900 million in Bitcoin. Long -term holders (more than 1 year) sold $ 1.2 billion in early June, most this year.
As the prices dropped, leverage traders were liquidated:
- $ 503 million in cryptographic positions liquidated in 24 hours
- 134,000 merchants affected on the main exchanges
- Ethereum 183 million dollars liquidated
- The largest liquidation of $ 8 million BTC on the BTC
These forced sales have accelerated the drop in the market, especially for altcoins which do not have the liquidity and stability of Bitcoin.
Altcoins are struck
While the decrease of 2% bitcoin is small, Altcoins took the brunt:
- Ethereum -10%
- Solana -11%
- XRP -1.4%
Bitcoin is strong because investors run smaller parts in BTC.
Points:
- $ 240 B lost in 7 days
- Bitcoin and Ethereum down
- War, profits and liquidations are the cause
The market is always vulnerable to external shocks and the feeling will be fragile in the short term.
Butt Arslan
Senior market analyst – Multi -outstum (FX, goods, crypto)
Arslan Butt is the main analyst of basic products and clues, bringing a wealth of expertise in the field. With an MBA in behavioral finance and active progress towards a doctorate, Arslan has an in -depth understanding of market dynamics. His professional career includes an important role as a main analyst in a leading brokerage company, completing his vast experience as a market analyst and Day Trader. A follower to educate others, Arslan has a commendable assessment as an instructor and speaker. His incisive analyzes, in particular in the fields of cryptocurrency and Forex markets, are presented in estimated financial publications such as Forexcrunch, InsideBitcoins and Economywatch, soliding his reputation in the financial community.
