Trump secretly met with Pakistani Marshal, and the Middle East powder keg ignited the change in the crypto market
1. Market status: Geopolitical black swans triggered leveraged liquidation
Conflict shock wave
After Israel's air strikes on Iran's nuclear facilities, BTC plummeted to 103,396 in 4 hours (a weekly decline of 5%), ETH fell below the key support level of 2,600, and the entire network was liquidated for 196 million US dollars (long orders accounted for 93%)
Safe-haven asset differentiation
Traditional safe-haven asset gold surged to $3,460, while crypto market funds flowed to on-chain US stock transactions and stablecoins, and USDC issued an additional 800 million US dollars in a single day
Institutions bought the bottom against the trend: Bitcoin ETF accounted for 25% of BTC spot trading volume (an increase of 150% from October 2024), and BlackRock IBIT had a net inflow of 420 million in a single week US dollar
2. Fund flow: Stablecoin bill reconstructs battlefield rules
Regulatory milestones
The US Senate passed the GENIUS Act by 68-30 votes, requiring stablecoin issuers to have full reserves + regular audits, and non-financial companies are restricted from issuing (except for Trump family project WLFI)
JD Global applies for stablecoin license, cross-border payment costs may drop by 90%, Circle stock price soars 34% before the market
Energy bound to encrypted payment
Saudi "digital riyal" anchored to crude oil (1 DR=1 barrel of crude oil), the UAE's "digital dirham" Q2 oil trade settlement exceeded US$1 billion, and the Middle East accelerated the construction of a "petroleum-stablecoin" closed loop
Third, on-chain hidden mines: liquidity crisis exposes structural defects
Alpha platform flash crash incident
ZKJ/KOGE plummeted 80% after the giant whale withdrew liquidity due to Binance's adjustment of the points rules, triggering a liquidation of more than US$100 million, exposing the vulnerability of the DeFi pool and the risk of market maker control
Binance urgently modified the rules: Starting from June 17, Alpha Inter-token transactions are no longer counted in points to curb manipulation
The double-edged sword of sanctions channels
Iran transferred 10,000 BTC (about $580 million) to China through encrypted addresses to pay for energy orders, but the US OFAC has frozen multiple Iranian exchange addresses, and cross-border anonymity has been weakened
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