The price of Bitcoin has fallen below $104,000, reaching around $103,800, after rising to $109,000 on June 17. The decline is linked to rising geopolitical and economic uncertainty caused by the conflict between Israel and Iran. Traders are actively hedging risks by increasing the volume of put options—tools that protect against price declines—which exceed the volume of call options by twofold. The most popular are short contracts with an expiration date of June 20, insuring against a drop to $100,000. The price of cryptocurrency holds a neutral position: BTC market capitalization is $2.08 trillion, while the total market capitalization is $3.26 trillion. Ethereum is trading around $2,500, and other top-10 cryptocurrencies are also showing declines. The Fear and Greed Index has dropped to 52, indicating more cautious investor sentiment. Experts warn that if the situation in the Middle East worsens and the Fed's policies tighten, the crypto market may enter a phase of sell-offs.
