$BTC đ Why Cypto Market Crashed Today?
1. Geopolitical tensions sparked a risk-off wave
Israelâs airstrikes on Iranian military targets triggered a sharp declineâBitcoin dropped over 4%, from ~$108K to around $103.5K, as investors rushed into traditional safe-havens like gold .
Crypto market liquidations surgedâroughly $335âŻmillion in just one hour following the strike news .
2. Massive futures liquidations
The sudden volatility triggered a cascade: traders holding leveraged long positions faced forced sell-offs, amplifying the downward move .
3. Technical-driven pullback
Bitcoinâs rally near $111K hit resistance at the upper Bollinger Band, signaling overbought conditions. After peaking, the price pulled back to the midâband (around $106â$108K) .
Indicators like Stoch RSI flipped from overbought zones, suggesting a consolidation phase was overdue .
4. Profit-taking after ETFâdriven rally
Crypto has seen heavy ETF inflows recently (e.g. $164M into Bitcoin ETFs just Jun 11), lifting prices toward record highs .
This often leads to profit-taking and short-term corrections.
đ Summary
Today's crypto dip is the result of a perfect storm:
Trigger Effect
Mideast conflict Fear â flight from crypto
Massive liquidations Amplified the sell-off
Technical resistance & overbought Natural cooldown
Profit-taking postâETF surge Sellers locking gains
What could happen next?
If geopolitical tensions ease, crypto markets could rebound quicklyâBitcoin has shown resilience postâcrisis in past cycles .
But keep an eye on key support levels: around $106Kâ$108K for $BTC , and $2.7K for $ETH .
