June 13 Crypto #Market_analysis
Today, the crypto market experienced significant fluctuations. The price of Bitcoin fell below $106,000 per coin, a daily decline of 2.47%. It once fell nearly 5% during the session, from a high of $108,400 to $102,700. Ethereum, Cardano, Solana and other currencies fell more significantly, all exceeding 10%. BNB fell nearly 4%, and XRP fell more than 7%.
The direct trigger of the plunge was Israel's air strikes on Iran, and geopolitical risks rose sharply. According to the Times of Israel on the 13th, the Israeli military confirmed that it had attacked dozens of Iranian nuclear-related facility targets, and then Israel and Iran closed their airspace. A spokesman for the Iranian armed forces said that Israel would pay a "heavy price", and the market was worried that the conflict would escalate further, and investors' risk aversion increased, and they withdrew from high-risk crypto assets. According to Coinglass data, in the past 24 hours, the cryptocurrency market's network-wide contracts exceeded US$1.1 billion, and the number of people who were liquidated reached 240,000, of which more than 90% were long orders. The largest single liquidation occurred on Binance - BTCUSDT, worth 201 million. This reflects that the market leverage has accumulated a lot in the early stage, and once the market reverses, the risk of liquidation will be quickly detonated.
