Geopolitical tensions in the Middle East—specifically Israel's strike on Iran—sparked a broad crypto sell-off today. Bitcoin dipped below $103,000 at one point, driven by risk‑off sentiment .
Liquidations: Roughly $450 million in leveraged BTC positions were liquidated—a sign of panic-deleveraging among traders .
Market breadth: 98 of the top 100 cryptocurrencies are trading lower, with total crypto market cap dropping ~6% to about $3.38 trillion .
Safe-haven shift: Traditional assets like gold and cash saw inflows, while BTC underperformed during the flare-up .
📉 Technical & Derivatives Insight
Current price action: BTC is trading around $104K—down ~1.6% from yesterday—after breaching the $106K–$105K support zone .
Options expiry: Nearly $3 billion worth of Bitcoin options expire around June 14. The max pain level is around $107K, which could act as a magnet—though today’s volatility may push price lower ahead of expiry .
🔍 What to Watch Next
1. Support levels near $102.5K–$103K—a breakdown there could pull BTC toward ~$100K .
2. Max‑pain expiry at $107K—recovery above this could signal bounce potential into expiry, while failure may extend the pullback .
3. Geo-news updates—any further Middle East escalation could prolong selling pressure.
4. Macro data & Fed commentary—especially U.S. CPI prints or Fed speech; softer inflation would support risk assets like BTC.
🧭 Summary
Today’s drop—spurred by geopolitical risk-off sentiment and heavy liquidations—dented gains after recent highs of $110K+. Watch the $102K–$103K support zone and the $107K max-pain mark into tomorrow’s options expiry. Any signs of easing from the Middle East or renewed institutional demand could help stabilize price.
On June 11, 2025, Trump announced a tentative trade framework with China from negotiations in London. It includes a 55% U.S. tariff on Chinese goods (10% base + 20% fentanyl-related + 25% existing tariffs), while China keeps a 10% tariff on U.S. exports .
In exchange, China agreed to resume exports of rare-earth minerals and magnets; the U.S. will ease visa restrictions on Chinese students .
2. Section 232 Steel & Aluminum Tariffs Increased
Effective June 4, 2025, Trump doubled steel and aluminum tariffs from 25% to 50%, using national-security authority .
3. Broad “Reciprocal” Tariffs via IEEPA
Since April, a 10% baseline tariff has applied globally, with higher rates (up to 55%) for countries with large trade deficits. This includes tariffs on Canada (25%), Mexico (25%), and China increases . This policy began April 2—termed "Liberation Day" tariffs .
"Today at 5:30 PM Pakistan time, the US CPI data will be released. I’ve attached a picture. Based on previous data trends, I’ll mention the actual data in the comments once it's out."#Pakistan #CPIdata $USD CORE CPI M/M PREVIOUS 0.2%
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