Risk assets, including cryptocurrencies, experienced relief after former President Donald Trump announced he might delay US military involvement in the Israel-Iran conflict for two more weeks. This news decreased immediate geopolitical risk perceived by markets.
Bitcoin (BTC) hovered around $106,000, gaining 0.9% within the past 24 hours, while the CoinDesk 20 index increased by 0.77%. Markets responded favorably, with oil prices retreating 1.7% after a long rally and European stocks rising. Prediction markets showed a decline in the odds of US military action before the month’s end, dropping from nearly 70% to 40%, though the risk remains elevated over a longer timeline.
Analysts remain cautious as subdued on-chain activity points to a maturing market dominated by institutional investors. CryptoQuant issued warnings that Bitcoin could fall to $92,000 or lower should demand not pick up, noting a 60% decline in ETF flows since April, halving of whale purchases, and significant BTC selling by short-term holders.
Further ahead, notable ecosystem updates include BlackCoin (BLK) activating SegWit on June 20 to enhance network security and performance, and ZIGChain (ZIG) launching its mainnet on June 25. CME Group plans to introduce spot-quoted futures for Bitcoin and Ether by June 30, pending regulatory approval, allowing longer-term contract holdings.
Market metrics show Bitcoin dominance steady near 65%, with mixed derivatives positioning and funding rates suggesting cautious sentiment. Liquidations recently reached $131 million over 24 hours, with Ethereum leading in volume. Crypto equities tracked included positive movements in Coinbase (COIN) and Circle (CRCL), while tokens like Jupiter (JUP) faced governance challenges.
Technical analysis highlights Bitcoin reclaiming its monthly open after retesting the 50-day EMA, signaling potential short-term momentum shifts. However, key resistance remains at the 20-day EMA, with bulls needing to maintain closes above recent highs to strengthen the bullish case.