The Red Today encryption market, with the maximum global market decreased by 4.32 % to $ 3.25 trillion. Most cryptocurrencies, including bitcoin, Ethereum, XRP, and Solana, see severe losses. Bitcoin is trading less than $ 104,000 at the time of this report. There is support near $ 101,000 to $ 102,000.
ETHEREUM (ETH) has decreased more than 9 % over the past 24 hours, as it has decreased to about $ 2.501. XRP has also achieved great success, as it slipped by more than 5 % to trade at $ 2.11. The famous altcoins like Solana (Sol) and Dogoin (DOGE) also – as Sol decreased more than 10 % while DOGE decreased by approximately 9 %. Even large symbols like BNB and Cardano (ADA) lost the ground, as it decreased by 2.89 % and 8.6 %, respectively.
Geopolitical tensions shake the markets
The biggest reason for the sale of encryption today is a sudden escalation in tensions in the Middle East. According to what was reported, Israel fired an air strike on Iranian nuclear establishments on June 13, and this geopolitical shock was terrified of global investors, which sent them to the safest assets such as gold, which jumped by 5 %.
Historically, whenever there are disturbances in the Middle East, risky origins such as cryptocurrencies are fell into a fall. Bitcoin alone decreased by approximately 4 % between today, a step similar to what happened during the US conflict in Iran in 2020.
Kidney and organizational pressure
Janet Yellen, US Treasury Secretary Janet Yellen, recently warned that the proposed tariff by Donald Trump could push inflation in the United States to 3 %. This may lead to the leadership of the Federal Reserve to maintain higher interest rates for a longer period – bad news of risk assets such as encryption.
Coinbase’s launch for the future contracts compatible with CFTC has pulled short -term liquidity away from instant markets, which increased the declining pressure.
The next big event for markets is the next interest rate decision, due within a few days. Now, there are 99 % chance rates that will remain the same. The head of the Federal Reserve in the market will appear more confident in future economic stability, which will later hint discounts. If not, and if the Federal Reserve holds the position “waiting and see”, the markets may remain weak at the present time.
