Market Overview: Bitcoin Soars Then Retracts, Geopolitical Tensions Trigger Spike
Yesterday (June 16), the crypto market experienced a wave of 'rise then fall' trend. Bitcoin and Ethereum performed well during the day, but in the early hours, due to the escalation of the Israel-Iran situation, the market suddenly plummeted. Here are the key dynamics and observations from yesterday.
Market Trend: Bitcoin Falls Back After Breaking $90,000, Ethereum Spikes Over $100.
Yesterday during the day, the crypto market was doing well. Bitcoin surged close to $90,000, peaking at $109,000; Ethereum also approached $2,700, reaching a high of $2,680. However, geopolitical risks surged in the early hours, causing panic selling, with Bitcoin dropping to $106,000 and Ethereum plummeting from $2,660 to $2,544 in a spike, dropping more than $100. In the past hour, long positions were liquidated up to $90 million, with Ethereum alone accounting for $50 million, and market sentiment turned cold instantly.
Bitcoin: High of $109,000, Dropped to $106,000, Currently Around $106,000.
Ethereum: High of $2680, Low of $2544, currently around $2600.
Altcoins: General Rise and Fall of 3-4%, Pepe Slightly Up, UNI and Pendle Relatively Stable.
US Stock Dynamics: Circle Hits New High, Sun's Backdoor Listing Sparks Debate
US Stock Crypto Concept Stocks Performed Brightly Yesterday. Circle's stock surged 13%, peaking at $165, setting a new historical high, and the stablecoin concept continues to be favored. SharpLink staged a dramatic comeback, soaring 45% to $13 after previously plummeting 80% due to SEC concerns, making for a dramatic rebound. Sun's Tron announced its reverse merger to list on Nasdaq, with stock prices soaring fivefold, and market value breaking $1 billion, but later fell back after Eric Trump denied cooperation, though it still remained strong.
On-chain Highlights: EverLunch's Golden Dog Emerging Frequently, Meme Coins Weaken.
On-chain activity is hot, EverLunch platform shines, Label project's market cap breaks $50 million, FengMu briefly surpasses $3 million. However, mainstream Meme coins like Pepe weakened alongside Ethereum's plunge. BNB chain's trading volume declined due to liquidation events, and the number of users brushing scores on B Alpha sharply decreased, indicating the end of the bonus period may be near.
Reminder: New Project Opportunities Come with Risks, Caution Advised in Buying High.
Project Focus: Pumpfun's Accusations Intensify
Pumpfun Project Announced Pre-sale on the 21st, but the founder's Twitter was suddenly banned, suspected of 'illegal securities activity' accusations, leading to community disputes. If the project forcibly issues tokens, it could become a 'vampire' of market liquidity, worth close attention.