1. Geopolitical Tensions (Israel–Iran Conflict)
On June 12–13, following Israel's attack on Iran, global "risk-off" sentiment significantly increased. As a result, investors pulled out of high-risk assets like crypto. Bitcoin dropped to around $102,000–103,000, leading to a market cap decline of $200–300 billion.
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2. US–China Trade Tensions & Trump's Tariff Threat
Trade talks between the US and China stalled, and former President Trump threatened new tariffs. This increased uncertainty in global markets and reduced investor appetite for risky assets like cryptocurrencies.
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3. Options Expiry Impact
On June 13, approximately $3.7 billion worth of Bitcoin and Ethereum options expired on Deribit. This led to forced liquidations and a short-term sharp price decline.
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4. Technical Correction & Market Consolidation
The market transitioned from a "greed zone" to a more neutral or bearish zone. Prices are consolidating in the $90,000–$110,000 range. Chart analysts pointed out a "double top" pattern, indicating potential for a short-term correction.
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5. Media Reports & Regulatory Pressure
Uncertainty regarding crypto regulations—such as the SEC/CLARITY bill and stablecoin legislation—also impacted investor confidence, adding further downward pressure on the market.
