As Israel Attacks Iran, Risky Holdings Including the Crypto Market Plummet While Gold and Silver Gain Value! Here Are All the Data

Following Israel's airstrike on Iran's nuclear and missile infrastructure, the cryptocurrency markets experienced a sharp get dumped, leading to a broader wave of sell-off in global risky assets.

As Israel Attacks Iran, Geopolitical Tensions Rise and Crypto Markets Get Dumped

While Bitcoin remained stable despite the overall drop in the crypto sector, it lost about 10% in value despite SOL ETF expectations.

Bitcoin (BTC) lost %2.9 in value and was trading around 102,664 dollars. In contrast, gold, considered a traditional safe haven, rose by %1.3 and approached an all-time high of 3,445 dollars per ounce.

The Israeli attack, reportedly targeting senior military officials in Iran, occurred shortly after the International Atomic Energy Agency accused Iran of violating uranium enrichment limits.

Iran retaliated by launching 100 suicide drones into Israeli territory. Although the US stated that it was not involved in the operation, the attack increased market unease and led to a decline in stocks worldwide.

The Market Impact Between Asset Classes

The ripple effect has spread far beyond cryptocurrencies:

Japan's Nikkei index dropped by 0.89%.

Euro Stoxx 50 lost %1.37 in value.

US futures generally got dumped and the E-mini Nasdaq-100 fell by 1.42%.

Oil prices have risen and Brent crude oil has stabilized after experiencing an increase of over 14%.

Gold and silver gained value, reflecting the tendency to avoid risk.

In the cryptocurrency market, Ethereum (ETH) was more affected than Bitcoin, dropping by 8.81% to $2,523.

Solana ETF Momentum Remained in the Shadows

According to Wintermute's OTC trader Jake Ostrovskis, it was reported that the SEC requested updates on the Solana ETF S-1 applications, which caused a brief surge. Bloomberg analysts assess the likelihood of approval by the end of the year at 90%. However, geopolitical shocks quickly erased these gains.

Ostrovskis said, "Markets seem to have insufficient exposure to SOL and related assets, which may create interesting opportunities when volatility decreases."

Derivatives and Liquidity Shock

A significant easing has occurred in the derivatives markets:

The total open position (OI) dropped from 55 billion dollars to 49.3 billion dollars.

Binance alone lost $2.5 billion in OI overnight.

Put/call ratios have increased on Deribit, indicating a defensive shift among investors (BTC: 1.28, ETH: 1,25)

The financing rates turned negative and altcoins like DOT, LINK, and 1000SHIB showed sharp get dumped.

Despite the wave of selling, the BTC leverage ratio remained high, and the $84 million long position between $102,000 and $104,000 is still at risk if downward pressure resumes.

Spot ETF Flows Continue to Support Crypto

As markets reacted to tensions in the Middle East, inflows into crypto ETFs continued their strong trend:

BTC spot ETFs have seen an inflow of 939 million dollars since the beginning of the month.

ETH spot ETFs recorded an inflow of $811 million, with $112 million on its own on June 12, and have seen positive flows for 19 consecutive days.

*****It is not investment advice.

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