As of the latest market dynamics on June 13, 2025, the cryptocurrency market crash is primarily driven by the following reasons:

Surge in geopolitical risks: Israel's attack on Iran has triggered a global risk-averse sentiment, with funds flowing into traditional safe-haven assets like gold and oil, leading to the sell-off of cryptocurrencies.

Escalation of regulatory risks: The Financial Stability Board (FSB) has warned that cryptocurrencies are nearing a systemic risk threshold, particularly emphasizing the risks of stablecoin runs, exacerbating market panic.

Technical correction pressure: Bitcoin has fallen below the middle band of the Bollinger Bands (106,600 USD) within the day, with MACD momentum weakening, triggering stop-loss orders and leveraged liquidations, resulting in over 555 million USD in liquidations across the network within 12 hours.

Macroeconomic disturbances: Following the release of the US PPI data, market expectations for the Federal Reserve to maintain aggressive rate hikes have increased, suppressing the valuations of risk assets.

Forecast for the next 12 hours:

Bitcoin (BTC): If it holds the key support at 105,000 USD (daily EMA30), a technical rebound may occur towards the resistance level of 106,500 USD; if it breaks down, it may test 103,000 USD.

Ethereum (ETH): Monitor the effectiveness of the 2,580 USD support; if it fails to hold, it may accelerate towards the psychological level of 2,500 USD, and a rebound needs to stabilize above 2,650 USD.

External variables: If the situation in the Middle East worsens or if there are changes in Federal Reserve policy signals, it may further suppress market sentiment, requiring close attention.

Investors are advised to control their positions (within 50%), set strict stop-losses, focus on short-term swing trading, and avoid blindly bottom-fishing.