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Could the Expiry of $3B Bitcoin Options Aggravate Today's Crypto Market Condition? Approximately 28,000 Bitcoin options contracts, with a notional value of around $3 billion, are set to expire today, mirroring similar events from last week. The longs and short sellers are evenly matched, with maximum losses expected around $3,000 above current spot prices. The number of unexpired Bitcoin options contracts is highest between $110,000 and $140,000, indicating bullish speculators' confidence. In addition, about 250,000 Ethereum contracts, with a notional value of $687 million, are also set to expire today. The combined value for today’s crypto options expiry is nearly $3.6 billion. This comes as the total market capitalization has fallen 7.4% to $3.34 trillion over the past 12 hours, with Bitcoin and Ethereum leading the losses.

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Cryptocurrency Value Plummets to $103K Amidst $200 Billion Market Loss Following Israeli Attack on Iran The cryptocurrency market has experienced a massive drop of more than $190 billion over the last 12 hours, causing total capitalization to decrease by over 7% to $3.36 trillion. This drastic decline follows news of an Israeli pre-emptive missile attack on Iranian nuclear sites, which prompted a state of emergency in Israel in anticipation of retaliatory actions. Bitcoin and Ethereum took the hardest hit with Bitcoin rapidly dropping by $5,000 to bottom out at $103,000. Despite the significant market downturn, a bullish outlook remains, with experts suggesting the stability of Bitcoin as a safe haven during turmoil. This drop in crypto markets coincides with a surge in Brent crude oil prices and gold prices due to the fear of full-scale war.

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The Importance of Binance's Dominance in the Spot Market: A Perspective Binance's increasing spot volume dominance is seen as a positive sign of investor trust and improved liquidity, leading to more stable price action. If Binance's spot volume share drops below 30%, it might indicate weakening investor confidence and the migration of capital to competing exchanges like Coinbase or Upbit. This could lead to a fragmented market with thinner liquidity and unpredictable price swings. Simultaneously, Binance is showing long-term conviction with steady net outflows of over 7,000 BTC since June 6, likely indicating assets being moved into cold storage. Moreover, the Long-Term Holder Position Change metric surpassing 600,000 BTC for the first time since September 2024 suggests that investors with longer time horizons are accumulating, supporting a more stable market structure.

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Crypto Trader Andrew Tate's $500K Loss and His New Venture with Ethereum (ETH) Social media personality and former professional kickboxer, Andrew Tate, experienced significant losses in his crypto trading venture, with only 27 successful trades out of 76, leading to financial damage exceeding $500K. Despite the loss, Tate remains confident, now investing heavily in Ethereum (ETH) using a 25x leverage. Currently, this move has rendered a paper profit of approximately $36,500. The losses came to light after Tate's unsuccessful trades were revealed through wallet tracing on the decentralized exchange, Hyperliquid. Known for his involvement in the crypto world, Tate had previously endorsed Bitcoin (BTC) over the American dollar and supported a meme coin named DADDY. The coin's value has since plummeted by 90% since its all-time high in July 2024.

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Trump's Pro-Crypto Stance Boosts Bitcoin Price Donald Trump, who has referred to himself as the first crypto President, promised a more favorable legislation to solidify the US's dominance in the crypto market. Following his online statement, Bitcoin's price experienced a slight recovery, rising from under $107,000 to nearly $108,000. Trump's administration has already ended the previous administration's war on crypto, replacing former SEC Chair, Gary Gensler, with Paul Atkins and dropping lawsuits against multiple crypto companies. Trump highlighted the significant progress in the industry, such as the national Bitcoin reserve, the digital asset stockpile, and the GENIUS stablecoin bill. He also pledged to continue creating simple market frameworks to help the US lead in the future of Bitcoin and crypto. Despite the price jump, Bitcoin remains about 4% below its all-time high, recorded on May 22.

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