Here’s the current crypto outlook:
🔥 Crypto “Flush” / Flash Crash Highlights🚀
1. Flash crash in ZKJ & KOGE
On June 20th, the native ZKJ token plunged about 80% in just a few hours—from $1.95 to roughly $0.38—triggered by coordinated liquidity withdrawal by large whale wallets, leading to nearly $100M in liquidations .
Around the same time, KOGE also cratered due to intertwined pools and similar whales-led dumps .
Binance Alpha platform was hit: active users dropped by ~40,000 and trading volume fell ~63% following the flash crash .
2. Macro market reaction
Broader crypto markets saw significant pullbacks mid-June, especially on June 13–17 amid rising Israel
Bitcoin broke below $103K, briefly slipping to ~$102K before a modest rebound .
Ethereum dropped 2–7% during the same period, with altcoins like Solana and Cardano down 8–9% .
Fear drove capital into gold, which rose ~1%, while crypto marketed itself less convincingly as a safe haven .
3. Market interpretation & outlook
Analysts think these dips are tech-like reactions to geopolitical risk, not structural breakdowns. For example, past patterns after shocks often yield a substantial rebound—Bitcoin historically rallies ~64% within ~50 days of such events .
The low Puell Multiple (a mining revenue metric) also suggests BTC may be undervalued and poised to recover .
🚀 Takeaway
ZKJ/KOGE: These tokens experienced a dramatic flash crash, exposing manipulation risks in low-liquidity environments. Binance has already revised its reward scheme to tackle these systemic vulnerabilities .
Major coins: Bitcoin, Ethereum, and others saw short-term corrections—not crashes. Worth watching for follow-through volatility, but underlying fundamentals and demand remain relatively sound.
What to Watch Ahead
1. Short-term volatility: Global tensions (Iran/Israel, macro events) could prolong crypto dips or spark quick rebounds.
2. Bitcoin technicals: The Puell Multiple and cost-basis metrics hint at oversold conditions (e 50-day support for BTC $106K–$98K) .
