Bitcoin Survives Market Turmoil Amid Israel-Iran Conflict: Crypto Daybook Americas

Crypto Daybook Americas: <a href="https://inrusdinr.in/btc-usd/">Bitcoin</a> Weathers Market Rout as Israel Hits Iran

What to know:

By Francisco Rodrigues(All times ET unless indicated otherwise)

The decline of cryptocurrencies was observed due to the escalation of Israeli air raids targeting Iran’s nuclear and missile facilities, causing a stir in international attitudes and prompting investors to abandon risky investments.

Over the past 24 hours, the CoinDesk 20 Index (CD20) – a gauge representing the overall crypto market – declined by 6.1%. Meanwhile, Bitcoin (BTC), often viewed as a safe investment option, experienced a drop of 2.9%. In contrast, gold futures, a more conventional safe haven, saw an increase of 1.3% from its previous closing price.

Prime Minister Benjamin Netanyahu of Israel explained that the recent nighttime attack, which included striking key figures in Iran’s military, was meant to halt Iran’s progress on its nuclear program and missile technology. Iran, who has frequently threatened Israel’s existence, countered with sending about 100 suicide drones towards Israeli territory. However, a stronger response from Iran is expected.

In just under a day following the International Atomic Energy Agency’s announcement that Iran had breached uranium enrichment restrictions, there was an attack that resulted in the loss of several of Iran’s military commanders. However, it is important to note that the U.S. has stated they were not implicated in this incident.

In this market turmoil, various risky investments suffered a significant decline. For instance, Japan’s Nikkei dipped by nearly 0.9%, the U.S. index futures fell approximately 1.2%, and the Euro Stoxx 50 dropped 1.35%. However, in contrast to these losses, U.S. crude oil futures experienced a substantial increase of over 6% to around $73 per barrel, with Brent crude briefly soaring by 14%. Gold also saw a surge in value, reaching $3,445 per ounce, close to its record high.

As a crypto investor, I witnessed the disappointing slide in cryptocurrency values, which erased the modest gains made earlier in the week due to anticipation surrounding the potential approval of an ETF. In particular, the value of Solana’s SOL token also dipped.

, in particular, had rallied on reports the SEC asked ETF issuers to update their S-1 filings, potentially accelerating the launch timeline. SOL is down nearly 9.5% in the last 24 hours.

Last night, it was revealed that the SEC requested Solana ETF issuers to revise their S-1 submissions, causing a significant increase in the price of SOL, as reported by Jake Ostrovskis, a trader at Wintermute,” CoinDesk said.

According to Ostrovskis, analysts Eric Balchunas and James Seyffart from Bloomberg ETF remain quite hopeful. They estimate that there’s a 90% chance the approval will be granted by the end of this year, with possible approvals as early as July or within three to five weeks following the updated submissions.

Consequently, he remarked that the market currently holds less exposure to SOL and associated assets, making the present situation intriguing and worth keeping an eye on.

Although there’s a surge of enthusiasm and an increase in investments into crypto spot ETFs (with Bitcoin funds accumulating $939 million this month alone and Ethereum attracting $811 million), the attention of investors has recently shifted towards the Middle East region.

Traders on Polymarket are considering a high likelihood (91%) that Iran may respond militarily against Israel this month. Meanwhile, the possibility of U.S. military action against Iran has significantly increased from a low probability (4%) to nearly one out of four (28%). Be vigilant!

Derivatives Positioning

Open interest (OI) across top derivatives venues saw a sharp reset.
After peaking above $55 billion on June 12, total OI dropped to a the month’s low of $49.31 billion, according to Velo data.
Binance shed over $2.5 billion overnight, alongside broad risk reduction across OKX, Bybit, Deribit and Hyperliquid. The pullback unwinds much of the steady build seen earlier this month.
Options positioning also turned more defensive, with Deribit data showing the BTC and ETH put/call ratios climbing to 1.28 and 1.25, respectively.
While upside strikes like $140K (BTC) and $3,200 (ETH) still hold large call interest, the majority of June 27 exposure remains out-of-the-money. The shift suggests growing demand for downside protection alongside lingering upside optionality.
Funding remains broadly negative, especially across altcoins. ETH sits at –7.99% on Deribit and BTC at –1.06%. Sharp discounts persist for DOT (–15.2%), LINK (–15.1%) and 1000SHIB (–44.5%).
HYPE (+8.27% on Hyperliquid) and AAVE (+9.95% on Bybit) are among the few to show long bias.
Despite Tuesday’s $1.16 billion in liquidations, leverage remains elevated. Coinglass data shows 90% of liquidations came from longs. As of June 13, bitcoin liquidation heatmaps highlight up to $84 million in long-side OI between $102K and $104K. These levels remain untriggered, but could amplify downside if breached.

Market Movements

BTC is down 1.08% from 4 p.m. ET Thursday at $104,889.07 (24hrs: -2.42%)
ETH is down 4.48% at $2,523.28 (24hrs: -8.81%)
CoinDesk 20 is down 3.2% at 3,007.21 (24hrs: -6.04%)
Ether CESR Composite Staking Rate is unchanged at 3.11%
BTC funding rate is at 0.0018% (1.9776% annualized) on Binance

DXY is up 0.44% at 98.35
Gold futures are up 1.25% at $3,445.00
Silver futures are up 0.47% at $36.47
Nikkei 225 closed down 0.89% at 37,834.25
Hang Seng closed down 0.59% at 23,892.56
FTSE is down 0.38% at 8,851.53
Euro Stoxx 50 is down 1.37% at 5,287.21
DJIA closed on TKTK up 0.24% at 42,967.62
S&P 500 closed up 0.38% at 6,045.26
Nasdaq Composite closed up 0.24% at 19,662.48
S&P/TSX Composite closed up 0.35% at 26,615.75
S&P 40 Latin America closed down 0.30% at 2,617.09
U.S. 10-Year Treasury rate is unchanged at 4.365%
E-mini S&P 500 futures are down 1.16% at 5,979.50
E-mini Nasdaq-100 futures are down 1.42% at 21,621.50
E-mini Dow Jones Industrial Average Index are down 1.18% at 42,483.00

Bitcoin Stats

BTC Dominance: 64.77 (0.70%)
Ethereum to bitcoin ratio: 0.02412 (-3.52%)
Hashrate (seven-day moving average): 928 EH/s
Hashprice (spot): $52.43
Total Fees: 4.86 BTC / $508,710.78
CME Futures Open Interest: 150,705 BTC
BTC priced in gold: 30.6 oz
BTC vs gold market cap: 8.66%

Technical Analysis

Ether continues to face resistance at the daily order block, with the price dropping below Monday’s high as tensions ramp up in the Middle East.
Earlier today, it briefly traded below Monday’s low before reclaiming that level.
A daily close above Monday’s low of $2480 — aligned with the 200-day exponential moving average, which has served as key support since May — would be an encouraging sign of strength.

Crypto Equities

Strategy (MSTR): closed on Thursday at $379.76 (-1.9%), -2.63% at $369.78 in pre-market
Coinbase Global (COIN): closed at $241.05 (-3.84%), 2.1% at $236
Circle (CRCL): closed at $106.54 (-9.1%), +1.32% at $108.1
Galaxy Digital Holdings (GLXY): closed at C$26.44 (+0.08%)
MARA Holdings (MARA): closed at $15.82 (-3.24%), 3.41% at $15.28
Riot Platforms (RIOT): closed at $10.21 (-3.22%), -3.33% at $9.87
Core Scientific (CORZ): closed at $12.14 (-0.9%), -2.55% at $11.83
CleanSpark (CLSK): closed at $9.71 (-2.61%), -2.99% at $9.42
CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $19.61 (-1.95%)
Semler Scientific (SMLR): closed at $30.74 (-3.09%), -2.41% at $30
Exodus Movement (EXOD): closed at $31.62 (+1.74%)