Welcome to the US Crypto News Morning Briefing—your crucial summary of today’s key developments in the world of cryptocurrency. Pour yourself a cup of coffee and get ready for an update on the current market situation, particularly focusing on Bitcoin (BTC). As geopolitical tensions persist, the leading cryptocurrency faces ongoing uncertainty, with recent events likely to influence market volatility.
Crypto News of the Day: Iran Targets Israel’s $475 Billion Stock Market, Yet TA-125 Surges
The previous edition of US Crypto News highlighted the S&P 500’s resilience amid rising geopolitical tensions. In a recent turn of events, Iran has targeted Israel’s economic framework by attacking the Stock Exchange building in Tel Aviv, acting in retaliation against Israel’s $475 billion capital market. Reports confirm that the Israeli Stock Exchange building in Ramat Gan, located east of Tel Aviv, was struck during Iran’s missile assault. Concurrently, Israeli-affiliated cyberattacks reportedly impacted Iran’s banking sector, resulting in significant losses in digital assets. BeInCrypto has noted that the financial arena has become a new battleground in the ongoing Israel-Iran conflict, with blockchain technology emerging as a key front. One commentator remarked, “The market’s reaction wasn’t spontaneous. It was a manufactured calm. Liquidity was reinforced. AI algorithms were utilized to control volatility. Panic was quelled. This isn’t merely warfare; it’s a systematic dismantling. A shift in financial power disguised by missile launches and public speeches. Keep an eye on the money flow, rather than the headlines. The markets are aware of what lies ahead.” Surprisingly, the TA-125 index saw a boost, achieving a 52-week high on the same day, climbing over 0.53% despite the surrounding political uncertainty. The TA-125 is an index that monitors the performance of the 35 largest and most actively traded companies on the Israeli stock exchange.
Bitcoin Remains Stagnant Amid Tensions, According to Crypto Executive
Ray Yossef, the CEO of NoOnes and former CEO of Paxful, informed BeInCrypto that Bitcoin remains confined within a narrow price range around $105,000, despite escalating geopolitical issues. Yossef pointed out that daily volatility is still under 2.1%, indicating a lack of panic selling. “Bitcoin no longer acts as a safe-haven asset; it seems to behave more like a highly volatile tech stock, influenced by macroeconomic factors while lacking its own direction. The correlation between BTC and the Nasdaq 100 remains significant at 0.68,” Yossef stated.
Analysts Believe Bitcoin’s Strength Is Based on Structural Factors
Bitcoin has maintained its position above the crucial $100,000 mark for over 40 days, showcasing notable resilience in light of rising geopolitical tensions and cautious signals from central banks. Analysts suggest that both macroeconomic and institutional dynamics are aligning to bolster Bitcoin’s status as a long-term treasury asset. This perspective aligns with views from Robert Kiyosaki, who has endorsed Bitcoin among other assets, as referenced in a prior US Crypto News report. “Regardless of the ongoing clash between Israel and Iran, Bitcoin has demonstrated remarkable resilience this week. BTC’s recent strength signifies not only its durability or appeal as a safe-haven asset but also its growing significance as an alternative to the depreciating US dollar,” stated Elliot Johnson, CEO of the Bitcoin Treasury Corporation (BTCT), during an interview with BeInCrypto. Johnson emphasized the influence of institutional demand, highlighting that corporations and governments have invested billions into Bitcoin treasuries, with Michael Saylor leading the way with a recent purchase of $1.05 billion, which helps maintain BTC firmly above the $100,000 threshold. Nic Puckrin, founder of The Coin Bureau, echoed this sentiment, suggesting that investors are starting to see the $100,000 level as a foundational price rather than just a point of support. “Any retail investor panic selling now serves as exit liquidity for institutional buyers,” Puckrin remarked.
Macroeconomic Factors Favor Bitcoin Amid Fed Projections
On the macroeconomic front, markets found reassurance in the Federal Reserve’s latest projections, which anticipate two rate cuts in 2025. According to Puckrin, an influx of liquidity is on the horizon, and Bitcoin is poised to be the primary beneficiary when that liquidity enters the market.
Bitcoin (BTC) Price Performance
As of the latest update, Bitcoin was trading at $104,708, reflecting a slight increase of 0.5% over the past 24 hours.
Chart of the Day: Israel’s TA-125
Byte-Sized Alpha: Quick Rundown of US Crypto News
Here’s a brief overview of notable US crypto equities today:
Company At Closing on June 18 Pre-Market Overview
Strategy (MSTR) $369.03 $370.50 (-0.40%)
Coinbase Global (COIN) $295.29 $293.45 (-0.62%)
Galaxy Digital Holdings (GLXY) $26.12 $27.05 (+3.57%)
MARA Holdings (MARA) $14.49 $14.61 (+0.83%)
Riot Platforms (RIOT) $9.94 $9.96 (+0.20%)
Core Scientific (CORZ) $11.90 $11.97 (+0.59%)
The crypto equities market is set to open, with Google Finance providing the latest updates.
Disclaimer
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