Following recent U.S. airstrikes on Iran, crypto experienced a sharp downturn, triggering over $1âŻbillion in liquidations and wiping out positions for nearly 240,000 traders in just 24 hours .
Bitcoin dropped below $100Kâthe lowest since May 8âand Ethereum, SOL, XRP, and others also tumbled after oil prices surged and risk-off sentiment rippled through markets .
Ether briefly flashed dropped to $2,224, then rebounded to about $2,292 on high-volume buying .
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đď¸ Policy & Institutional Moves
The U.S. Senate passed the GENIUS Act (68â30), establishing the first federal regulatory framework for stablecoins. It mandates full reserve backing, transparency, and enhanced oversightânow headed to the House .
This comes as Texas Governor Greg Abbott greenlit creation of a Texas Strategic Bitcoin Reserve, while Jan3âs Samson Mow advocates broader âBitcoin nationâstate adoptionâ in Europe .
Nakamoto Holdings raised $51.5âŻmillion to buy more BTC, underscoring growing demand from dedicated investment vehicles .
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đ Tokens in Focus
Solana suffered an ~8% loss, falling to ~$129 amid rising oil prices and geopolitical instability .
Binance Coin (BNB) is gaining attentionâitâs predicted to potentially outpace Bitcoin in July due to its solid role in the Binance ecosystem .
XRP is being eyed: analysts foresee a bullish pattern with potential to reach $10 by 2025 .
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đ What This Means for You
1. High volatility = high risk & opportunity. Geopolitical shocks can swiftly unseat positions, but active dips and recoveriesâlike ETHâs flash bounceâdemonstrate how liquidity can spark reversals.
2. Regulation is tighteningâbut stabilizing. The GENIUS Actâs passage is a signal that U.S. stablecoin infrastructure is maturing, reducing uncertainty for both holders and issuers.
3. Institutional adoption is accelerating. From state reserves to capital raises by BTC-focused firms, both governments and corporations are embracing crypto as an asset class.
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đ§ Crypto Strategy Takeaways
For traders: Tighten risk managementâwatch key supports: BTC at $100Kâ$103K, ETH at $2,200â$2,300, SOL around $125â$130.
For investors: Keep an eye on stablecoin regulatory developmentsâthey can strengthen the foundational infrastructure.
For long-term holders: Continue monitoring geopolitical flashpointsâthe
e may trigger buying windows or trend reversals.
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