Author: 1912212.eth, Foresight News
Original Title: War Shadows and Liquidity Drought, Crypto Market Once Again Becomes Skittish
In the early morning of June 13, BTC dropped from $108,000 to $102,664, with a rare seven consecutive four-hour declines. ETH fell from around $2,800 to $2,455, experiencing an unusual nine consecutive four-hour declines. Most Altcoins were significantly impacted and declined.
Regarding open interest contract data, Coinglass showed that network-wide liquidations reached $1.12 billion in 24 hours, with long liquidations at $1.04 billion. The largest single liquidation occurred on Binance's BTCUSDT, valued at $201 million.
On June 12, glassnode monitoring data showed that Ethereum's open interest just hit a historical high, breaking $2 billion. Despite ETH's slight pullback from $2,800, market leverage continues to accumulate as traders increase stablecoin leverage.
Additionally, after SharpLink Gaming filed a document with the SEC regarding "PIPE investor stock sales", its stock price plummeted approximately 70% after-hours, causing significant negative impact on ETH.
The company submitted an S-3ASR registration statement allowing the resale of up to 58,699,760 shares for over 100 shareholders related to their PIPE financing. Market initially interpreted this as PIPE investors selling shares. Joseph Lubin, the company's board chairman, clarified on X platform that the market "misread" the S-3 document, which is merely a standard procedure for potential resale registration.
The significant growth in futures open interest indicates that the recent price increase was primarily driven by leveraged futures traders rather than spot buyers. Compared to Bitcoin, which is still driven by spot demand, Ethereum's trend shows divergence. Recent surge in call option purchases, combined with gamma hedging effects, exposes ETH to notable gap risk. The market becomes increasingly fragile and sensitive to momentum changes.
As the market anticipated Ethereum's strong rebound, it unexpectedly turned downward again. What exactly happened?
Israel and Iran Reignite Military Conflict
In the early morning of the 13th local time, Israeli Defense Minister Katz claimed Israel launched airstrikes against Iran. He predicted Israel would soon face missile and drone attacks. According to Xinhua, Israeli Prime Minister Netanyahu stated that Israeli military strikes against Iran would "continue for days".
Israel is currently 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.
Iranian state television reported unconfirmed reports that Revolutionary Guards Commander Salami might have been killed in the Israeli attack, along with another senior guard officer and two nuclear scientists.
International Brent and WTI crude futures rose over 8%. Nasdaq futures dropped 2%, S&P 500 futures fell 1.8%, and Dow futures declined 1.6%. Spot gold briefly reached $3,420 per ounce, rising nearly 1%.
Federal Reserve Delays Rate Cut
[Rest of the translation continues in the same professional manner...]
