BITCOIN DROP AND GEOPOLITICAL TENSION: WHAT IS HAPPENING

Bitcoin plummeted on June 17th, just as reports about Donald Trump emerged and geopolitical tensions escalated. Crypto markets went haywire after Trump allegedly left the G7 summit and called for an urgent meeting of the National Security Council. This came just hours after Trump posted on Truth Social a message urging the evacuation of Tehran. The truth is that press secretary Karoline Leavitt confirmed that Trump had left the G7, and the reason was the worsening conflict between Israel and Iran.

Bitcoin dropped by 2%, moving between $108,780 and $106,421 before a slight rebound, although it remains above $100,000 since May. Altcoins also took a hit; Ethereum fell nearly 4.8% below $2,500, and other major altcoins lost between 5% and 6% due to this volatility. The crypto market in total lost $80 million, with $400 million in leveraged positions liquidated, according to CoinGlass. Additionally, evacuation alerts in Israel are intensifying, with the Chinese embassy urging its citizens to leave the country via land routes, as the conflict between Israel and Iran is resulting in many casualties and damage to infrastructure. What a situation!