Bitcoin Remains Stable Around $106,000 Amid U.S. Military Concerns
Risk assets, including cryptocurrencies, improved after President Trump indicated a delay in potential U.S. military involvement in the Israel-Iran conflict. Bitcoin (BTC) is currently around $106,000, up 0.9% in the last day, while the broader CoinDesk 20 index gained 0.77%. Oil prices fell by 1.7%, and European stock indexes rose.
Trump's comments decreased predictions of U.S. military action from about 70% to 40% this month, and from 90% to 62% for next month. Analysts suggest that while immediate intervention prospects have lessened, uncertainty will persist in markets.
Despite market stability, analysts highlight diverging risks:
- Glassnode noted subdued on-chain activity, indicating a more mature market with institutional dominance.
- CryptoQuant warned BTC could decline below $92,000 if demand does not increase, citing a 60% drop in ETF flows since April and reduced whale buying.
What to Watch
- Crypto
- June 20: BlackCoin (BLK) activates SegWit on mainnet.
- June 25: ZIGChain (ZIG) mainnet launches.
- June 30: CME Group introduces spot-quoted futures pending regulatory approval.
- Macro
- June 20: Canada releases May producer price inflation data.
- June 23: Mexico’s retail sales data published.
- June 23: S&P Global releases June U.S. manufacturing and services data.
- June 23: Argentina’s GDP data released.
- Earnings
- June 23 (TBC): HIVE Digital Technologies expected earnings: $-0.12.
Token Events
- Governance votes & calls
- Compound DAO votes on creating the Compound Foundation with an $9 million request.
- Arbitrum DAO votes on launching DRIP, an $80M incentives program for DeFi activities.
- ApeCoin DAO votes on transitioning to ApeCo, a new entity by Yuga Labs.
- Polkadot Community votes on launching a non-custodial payment card.
- Unlocks
- June 30: Optimism (OP) unlocks 1.83% of its supply worth $17.34 million.
- July 1: Sui (SUI) unlocks 1.3% worth $120.99 million.
- July 2: Ethena (ENA) unlocks 0.67% worth $11.23 million.
- Token Launches
- June 26: Coinbase plans to delist Helium Mobile, Render, Ribbon Finance, and Synapse.
Market Movements
- BTC is at $106,015.34, up 1.63% from Thursday.
- ETH is at $2,554.74, up 1.85%.
- CoinDesk 20 is at 3,034.29, up 1.3%.
- DXY is down 0.30% at 98.61.
Technical Analysis
- Bitcoin has reclaimed its monthly open, signaling a potential shift in momentum.
- A decisive close above recent highs could strengthen bullish sentiment.
ETF Flows
Spot BTC ETFs
- Daily net flows: $0.
- Cumulative net flows: $46.63 billion.
Spot ETH ETFs
- Daily net flows: $0.
- Cumulative net flows: $3.92 billion.
While You Were Sleeping
- Europe prepares for Iran talks as Trump signals a two-week decision period.
- Bitcoin remains stable as traders anticipate a traditionally bullish second half.
- Arizona moves closer to establishing a Bitcoin reserve.
- North Korean hackers target crypto firms through job applications.
- The U.K. reports a significant drop in retail sales, raising economic concerns.