June 23 Crypto Market #Outlook
Today, the crypto market fell sharply, and panic was pervasive. Bitcoin prices fell to their lowest level since May over the weekend, and fell below the $99,000 mark on Sunday before rebounding. The current price is around 101,584. Ethereum once plummeted by more than 10%, and Solana, Ripple (XRP) and Dogecoin also fell sharply, dragging down the entire cryptocurrency market. In the past 24 hours, a total of 180,900 people worldwide were liquidated, with a total liquidation amount of US$691 million. The largest single liquidation occurred in HTX, BTC, USDT, worth US$35.4503 million-
Geopolitical factors: The United States launched attacks on Iran's three major nuclear facilities, and Iran threatened to block the Strait of Hormuz, which handles about 20% of the world's oil supply. The intensification of geopolitical conflicts has caused a rapid rise in risk aversion in the market, and investors have sold risky assets, with cryptocurrencies being the first to bear the brunt. The Iran-Israel conflict has already caused international crude oil prices to rise by 10%, and the increase in June exceeded 20%. The escalation of the US-Iran conflict has further disrupted the stability of the financial market.
