Crypto Market Volatility- Altcoins Struggle While Bitcoin Dominance
Crypto Market Volatility– At the time of writing, Bitcoin (BTC) had fallen by 1.16%, while Ethereum (ETH) dropped 2.79% over the past 24 hours. The decline comes amid growing geopolitical tensions, particularly after U.S. President Donald Trump demanded an “unconditional surrender” from Iran and referred to its leader as an “easy target.” These statements did little to reassure investors already cautious due to macroeconomic instability.
Oil Prices and Market Sentiment
Volatility in oil prices, largely influenced by the escalating situation in the Middle East, also weighed on the broader market. As energy costs rise, consumer spending power can decline—potentially affecting risk assets like cryptocurrencies.
In May, crypto market sentiment was in “extreme greed” territory, but this has since cooled to more neutral levels. The Federal Reserve’s interest rate decision on 18 June, widely expected to result in no changes, was mostly priced in. Meanwhile, long-term holders have continued to accumulate Bitcoin, according to on-chain metrics.
“Price is always drawn to liquidity,” analysts note, explaining why Bitcoin has remained in a consolidation phase recently. With no strong directional trend, BTC has been particularly reactive to major news events and social media activity.
For instance, the fallout between Elon Musk and Donald Trump on 13 June triggered sharp price swings, which were followed by fast reversals—clear signs of magnetic liquidity zones in play.
Currently, the monthly open at $104.6K serves as a key support level. A daily close below the $104K–$104.5K range may point to a potential move toward $102K or even $100K. Altcoins also remain under pressure, failing to break past the $1.24 trillion resistance zone.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
