In the early morning of June 13, Bitcoin dropped from $108,000 to $102,664, experiencing a rare seven consecutive four-hour declines. Ethereum fell from around $2,800 to $2,455, with an unusual nine consecutive four-hour declines. Altcoins were generally hit hard due to the market's influence.

According to Coinglass liquidation data, the network experienced $1.12 billion in liquidations within 24 hours, with long positions liquidated at $1.04 billion. The largest single liquidation occurred on Binance BTCUSDT, valued at $201 million.

On June 12, glassnode monitoring data showed that Ethereum's open interest just hit a historical high, breaking $20 billion. Although ETH's price slightly pulled back from the $2,800 level, market leverage continues to accumulate as traders increase leverage using stablecoins.

Additionally, the "ETH Microstrategy" listed company SharpLink Gaming submitted a filing to "the "PIPE investor stock sales", causing its stock price to plummet by about 70% after-hours, negatively impacting ETH.

The company filed an S-3ASR registration statement allowing the resale of up to 58,699,760 shares for over 100 shareholders related to its PIPE financing. The was initially misinterasprinvestors selling shares,, but Joseph Lubin clarified on X platform that it was a standard procedure for potential resale registration, not actual selling.

The significant growth in futures open interest indicates that the current price increase is primarily driven by leveraged futures traders rather than spot buyers. compared to Bitcoin, which is still driven by spot demand, trend shows divergence. Recent surge in call option purchases, combined with gamma hed, a risk of significant price gaps. The market becomes increasingly fragile and sensitive to momentum changes.

As the market anticipated Ethereum's strong rebound leading Altcoins, it unexpectedly turned downward again. exactly happened?

Israel and Iran Reignite Military Conflict

In the early morning of the 13th local time, Israel's Ministry of Defense stated that Israel launched a strike against Iran. Defense Minister Katz claimed Israel conducted an air strike, anticipating missile and drone attacks in retaliation. According to Xinhua, Prime Minister Netanyahu stated that Israel's military action against Iran would "continue for days".

Currently, Israel is in a state of emergency. CNN reported that Israel is preparing for a major Iranian retaliation, potentially larger than previous attacks. Sources suggest Israel intends to continue attacking Iran until it believes the nuclear threat is eliminated, though internal security agencies have doubts about achieving this through unilateral action. Israel's primary targets include Iran's nuclear facilities, military assets, and key military personnel.

Iranian state television just reported unconfirmed reports that Revolutionary Guards Commander General Soleimani might have been killed in the Israeli strike strike. attack The added that senior guard officer and two nuclear scientists may have also died. No additional details were provided.

International market Brent crude and WTI crude futures rose over 8%. Nasdaq futures expanded losses to 2%, &P dropped500 dropped 1.8%,1and Fell .6%. Spot gold briefly rose to $3,420 per 1% intraday.

< h1>Federal Reserve Delays Rate Cut

Since December 2024, the Federal Reserve has not softened its stance on rate cuts. US President Trump has frequently expressed frustration, repeatedly suggesting on social media that the Fed should lower rates rates stating, "We have substantial short-term debt, and I prefer long-term low-interest debt. A 1% rate cut means 1% less payment."

"Recommending the Federal Reserve cut by 200 basis points," Powell remained unmoved. While the market anticipated Powell's potential dismissal, Trump stated he would not fire Powell, only requesting rate cuts given good inflation data. Hedge fund titan Paul Tudor Jones suggested Trump would choose a "very dovFederal Reserve chair.

Recent CPI data and May core PPI suggest traders expect two rate cuts this year, Market starting September. Under current market liquidity tightening, even slight disturbances can trigger significant market declines.

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