The symbolic threshold of $ 100,000 has just been broken. At the heart of this fall? The attack of the United States against Iran, the threat of a closure of the Strait of Ormuz … and chain liquidations on the crypto markets.
Increased tensions in the Middle East
The tension was still mounted a notch on the night of June 21 to 22. The United States has launched a major military operation targeting several Iranian nuclear sites, as part of the “Midnight Hammer” operation.
In response, the Iranian Parliament approved a text allowing the closure of the Strait of Ormuz, a strategic crossing point by which transit nearly a quarter of world oil.
The decision is not yet official and must still be validated by the Supreme National Security Council. The American administration even asked China to intervene to calm the game, in the hope of dissuading Iran to make its threat. Beijing, very dependent on Iranian oil, remains silent for the moment.
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Cascade liquidations
Since the announcement of the American strike, nearly a billion dollars in long positions have been liquidated, mainly positions in longon the main exchange platforms such as Binance, Bybit or OKX after Coringlass.
A classic phenomenon: the more the price drops, the more the lever -effect positions are forced to end … and the more it amplifies the fall.
Geopolitical uncertainty generally pushes investors to flee assets at risk. The fall in the Bitcoin course under $ 100,000 indicates that it is not yet considered a refuge value.
Nevertheless, professional investors, investment funds are not active, just like ETF.
Here is what it will be interesting to observe from Monday:
- entries and outputs on Bitcoin and Ethereum ETF;
- how the golden price will evolve (refuge value par excellence);
- the behavior of the stock markets to them reopening on Monday;
- The evolution of the price of the barrel of oil.
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Sources: The world
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Investments in cryptocurrencies are risky. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital
Co-founder of cryptoast, I like to analyze the changes that Bitcoin and cryptos can bring in our life and societies, from a social and economic point of view.
Robin Berné
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