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Bitcoin Rebounds as Markets Price in 'Short-Lived' Iran Conflict

Bitcoin regained a footing late Sunday to trade above $101,000, recovering from earlier weekend losses as investors responded to U.S. and Israeli airstrikes on Iranian nuclear sites. 

The gains came alongside modest moves in gold and a muted reaction across oil and equity futures, signaling traders expect a contained conflict rather than a sustained geopolitical shock.

The U.S. operation, carried out in coordination with Israel, targeted Fordow, Natanz, and Isfahan using more than 125 aircraft and bunker-buster munitions.

Iran responded with missile and drone attacks on Israeli cities and threatened to strike U.S. military bases in the Gulf. 

Crypto Market Sees over $1B in Daily Liquidations, BTC Briefly Drops Below $100k Following U.S. Strikes on Iran

Crypto markets dipped after the U.S. announced it had conducted three military strikes on Iranian nuclear sites, leading to over $1 billion in daily liquidations and plunging Bitcoin’s price briefly below $100,000 for the first time in 45 days. 

The liquidations primarily comprised long positions, and the publicly available data likely understates the true extent of liquidations. 

Altcoin prices saw the largest declines, while the top 30 cryptocurrencies by market capitalization held up best. 

Iran’s parliament indicated Sunday it may close off the Strait of Hormuz, a crucial choke point for the global oil trade. 

OKX Crypto Exchange Considering US IPO Following April Relaunch: Report

OKX, a major global crypto exchange, is considering an initial public offering in the U.S., according to a report from The Information.

The exchange announced its U.S. expansion in April after a $500 million settlement with the Department of Justice in February over allegations of operating a money transmitting business without a license.

OKX set up its regional headquarters in San Jose, California, and appointed Roshan Robert — formerly of Morgan Stanley and Barclays — as its U.S. CEO.

Solana, XRP and Dogecoin ETF Approvals in 2025 Are a Near Lock, Analysts Say

Top analysts are near-certain that numerous crypto spot ETF applications, including Dogecoin, Solana, and XRP, will be approved by year's end.

James Seyffart, an ETF analyst at Bloomberg, said the approvals could come next month or by the late fall—but that regardless, the question at hand is now "when not if."

Other altcoin ETFs expected to begin trading on Wall Street include Litecoin, Cardano, Polkadot, and Avalanche.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Friday was $6.37 million. The total net asset value of Bitcoin spot ETFs is $126.54 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.14%.

Source: SoSoValue

The Bitcoin spot ETF with the highest net inflow on June 20 was iShares Bitcoin Trust ETF (IBIT), with a net inflow of $46.91 million.

Source: SoSoValue