Schlagwort: crypto business

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Bitcoin breaks to $103k as Iran attacks US base in Qatar

  • Bitcoin price rose more than 3% to break to $103k on Monday.
  • Gains came despite Iran’s missile attacks on US bases in the Middle East.
  • BTC also seemed to rally amid reports that US President Donald Trump seeks no further military action in Iran

Bitcoin (BTC) has soared to $103,000 as of writing on Monday, June 23, 2025, defying expectations amid escalating tensions in the Middle East.

The cryptocurrency’s sharp rally comes despite Iran’s recent retaliatory attacks on US military bases.

It includes a ballistic missile strike on the Al Udeid air base in Qatar.

Reports indicate that US President Donald Trump has signaled a reluctance to pursue further military action against Iran, a stance that appears to have bolstered investor confidence in Bitcoin as a safe-haven asset.

However, this optimism is tempered by Qatar’s announcement of airspace closures, which resulted in a lot of airlines cancelling flights, and Qatar’s statement that it reserves the right to respond directly, adding volatility to the market.

Bitcoin price chart by CoinMarketCap

Bitcoin price gains amid geopolitical news, touches $103,000

Bitcoin’s price surged by over 3% within a few minutes as the market reacted to news that air defenses in Qatar had foiled an Iranian attack on the US air base at Al Udeid.

While investors adjusted to the development, buying pressure catapulted Bitcoin price from an initial dip to under $100k, with the benchmark digital asset hitting intraday highs above $103k.

The gains saw BTC solidify its bounce after falling to lows of $98,290 over the weekend amid US attacks on Iran’s nuclear sites.

Cryptocurrencies and stocks jumped as reports suggested Iran had warned Qatari authorities of the retaliatory attacks, with the US also aware of the strikes targeting the air base in Qatar in advance.

Similar warnings also hit US bases in Iraq, Kuwait, the UAE, and Bahrain. These countries closed their airspaces.

What next for BTC amid Middle East conflict?

While the cryptocurrency market remains sensitive to geopolitical instability and may dump amid escalating tensions, Bitcoin could climb towards $104k or higher. If not, support may be around $100k and $98k.

Notably, the future trajectory of Bitcoin price and top altcoins remains uncertain, given Iran says it’s ready to increase the attacks. Qatar has also said it reserves the right to retaliate. Also key are reports that Trump isn’t looking to attack Iran.

However, Trump’s comments could be similar to what he said earlier this week, where he indicated a potential two-week deliberation period before deciding on military action against Iran. Yet, the US launched a surprise attack on Iran’s nuclear sites.

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HBAR price risks deeper drop as Hedera stablecoin supply slumps 80%

  • Token still near 2025 low despite short-term bounce.
  • Market activity remains muted across the Hedera network.
  • Recovery possible if price breaks above $0.15 zone.

Hedera’s native token HBAR is under mounting pressure as the network struggles with a sharp drop in stablecoin supply and declining market activity.

Despite gaining 5.61% in the past 24 hours to trade at $0.1372, HBAR remains close to its year-to-date low.

Over the past week, the token lost as much as 15% before staging a short-term bounce.

Meanwhile, Hedera’s stablecoin reserves have plummeted by more than 80% in just a month, highlighting severe liquidity issues that could weigh further on the token’s price.

Unless capital inflows pick up and on-chain activity rebounds, HBAR may breach critical support and extend its decline.

Stablecoin liquidity on Hedera drops to $41 million

According to data from DefiLlama, Hedera’s total stablecoin supply has declined to $41 million, marking its lowest level in the past 90 days.

This is a sharp reversal from the $216 million peak recorded last month.

The 80% drop reflects a broader decline in liquidity and user participation across the Hedera ecosystem.

Stablecoins are widely used as proxies for capital deployment in decentralised networks.

A significant contraction in their supply usually indicates reduced investor appetite for trading, lending, or yield farming.

This weakening demand reduces pressure on the native token to serve as gas or collateral, thereby putting more downside risk on HBAR.

If the stablecoin outflows continue, it may signal that users are migrating to alternative blockchains with more attractive yields or higher activity levels.

This could further strain Hedera’s token economy and its ability to retain value in a highly competitive decentralised finance (DeFi) landscape.

HBAR trades below key Ichimoku Cloud levels

From a technical perspective, HBAR’s current price action paints a bearish picture.

The token is trading below the Ichimoku Cloud on its daily chart, with resistance levels now positioned at $0.15 and $0.17.

These levels correspond to the indicator’s Leading Spans A and B, which act as dynamic resistance zones when prices remain underneath them.

The Ichimoku Cloud is commonly used to gauge market trends and momentum.

When the price is below the cloud, it typically reflects negative sentiment and a dominance of sellers.

For HBAR, these resistance zones must be reclaimed to shift the momentum in favour of bulls.

At the time of writing, HBAR is hovering at $0.1372, having risen 5.61% in the last 24 hours.

This recovery comes after days of steady losses, but the token remains close to its 2025 low of $0.13.

HBAR price
Source: CoinMarketCap

If this support level is breached again, there could be a cascade of further selloffs, particularly from short-term traders looking to limit losses.

Liquidity crunch threatens sustained sell pressure

The sharp reduction in stablecoin reserves has created a liquidity crunch on the Hedera network.

This restricts user activity and narrows the avenues for deploying capital.

As a result, network participation has stagnated, and fewer tokens are circulating in DeFi protocols or decentralised applications.

Without a recovery in stablecoin activity or a major catalyst to draw new users, HBAR’s fundamentals may continue to deteriorate.

In such a scenario, the market could see sustained selling pressure as investors rotate out of underperforming assets.

A break below $0.13 could trigger further losses, with lower support zones yet to be tested.

However, the current outlook may shift if buyers begin to accumulate at discounted levels.

Reversal possible if bulls reclaim $0.15

Despite the prevailing downtrend, a bullish reversal is still possible.

If investor sentiment improves and stablecoin liquidity returns to the Hedera network, it could spark renewed interest in HBAR.

A decisive move above $0.15 would be the first technical signal of recovery.

Such a breakout would allow HBAR to challenge the $0.17 resistance next, potentially reversing the multi-week bearish structure.

Until then, the token remains vulnerable to further losses, especially if macro market conditions stay risk-averse or network fundamentals weaken further.

The post HBAR price risks deeper drop as Hedera stablecoin supply slumps 80% appeared first on CoinJournal.

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Strategy makes modest Bitcoin purchase amid ongoing accumulation

  • Strategy bought 245 Bitcoin for $26 million between June 16–22, one of its smallest weekly purchases since ramping up buying.
  • The company has now gone four weeks funding Bitcoin purchases without selling common stock, using preferred shares instead.
  • Strategy’s stock has soared over 3,000% since 2020, significantly outperforming Bitcoin’s 1,000% rise in the same period.

Strategy, the digital-asset treasury firm formerly known as MicroStrategy Inc., purchased $26 million worth of Bitcoin over the past seven days.

This marks the second-smallest weekly acquisition by the company since it ramped up cryptocurrency buying more than six months ago under the leadership of Executive Chairman Michael Saylor.

Latest acquisition

Between June 16 and June 22, Strategy acquired 245 Bitcoins at an average price of $105,856 each, according to a filing with the U.S. Securities and Exchange Commission on Monday.

While the firm has occasionally skipped weekly purchases, this week’s buy was the lowest since it acquired 130 Bitcoins during the week ending March 17.

Strategy, based in Tysons Corner, Virginia, now holds Bitcoin valued at approximately $60 billion.

Strategy’s executive Chairman, Michael Saylor, in a tweet, confirmed the purchase.

According to Saylor, the company now holds 592,345 bitcoins, acquired for $41.87 billion at $70,681 per bitcoin. 

The company has 19.2% year to date in BTC holdings, Saylor added.

Consistent buying, no equity Sales

For the fourth consecutive week, Strategy funded its Bitcoin purchases without selling any common stock.

Critics of the company’s approach, including short-seller Jim Chanos, have expressed concern over the high premium at which Strategy’s shares trade relative to the value of its Bitcoin holdings.

The company used net proceeds from the sale of its Strike preferred stock (STRK) and Strife preferred stock (STRF) to finance the latest Bitcoin acquisition. Saylor, a co-founder of Strategy, continues to lead the company’s aggressive cryptocurrency investment strategy.

Since the company first began acquiring Bitcoin in mid-2020, its shares have surged over 3,000%, far outpacing Bitcoin’s own rise of about 1,000% during the same timeframe.

Strategy had added aggressive positions in BTC in the previous weeks.

On June 16, the company bought 10,100 BTC at an average price of $104,080.

The company added positions when the market dipped due to the Israel-Iran conflict.

Since initiating its Bitcoin purchasing program in mid-2020, Strategy’s shares have soared over 3,000%.

By comparison, Bitcoin has gained around 1,000% in the same period. On Monday, Strategy’s stock fell 2.48% to $360.52.

From software to digital assets

MicroStrategy, historically known as an enterprise software company, shifted its corporate focus toward Bitcoin under Saylor’s leadership in 2020.

The firm now functions more like a Bitcoin treasury vehicle, drawing attention from both crypto advocates and traditional financial analysts.

While the strategy has delivered substantial returns, it remains controversial due to the volatility of cryptocurrency markets and the company’s aggressive capital deployment into digital assets.

The post Strategy makes modest Bitcoin purchase amid ongoing accumulation appeared first on CoinJournal.

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XRP crashes 12.5% in TVL, ETF delay and war fears trigger selloff

  • XRP Ledger TVL dropped 12.5% to US$54.2 million.
  • Open interest fell 36%, funding rates turned negative.
  • Death cross and descending triangle indicate more downside.

XRP is facing renewed downside pressure as a combination of geopolitical instability, regulatory uncertainty, and weakening network metrics push the token closer to a critical breakdown.

The cryptocurrency, once buoyed by optimism surrounding a possible XRP ETF and Ripple’s courtroom wins, is now testing major support near the $2 mark. However, XRP has rebounded slightly and is now up by 3.34%, trading at $2.02.

XRP price
Source: CoinMarketCap

With bearish technical formations in place and key indicators flashing red, analysts suggest the next move could drag XRP down toward $1.47—or worse.

ETF delay and macro risks hurt sentiment

Investor confidence took a hit after the US Securities and Exchange Commission postponed its decision on the Franklin Templeton spot XRP ETF.

This marked the latest in a series of regulatory setbacks for crypto assets in the US, fuelling speculation that XRP’s institutional adoption may take longer than expected.

The delay, announced last week, coincided with rising geopolitical tensions in the Middle East. As fears of a broader conflict mounted, Bitcoin and other major altcoins were caught in a widespread risk-off move.

XRP was particularly affected, entering one of its longest losing streaks in over a month.

This double blow—the ETF delay and broader crypto selloff—triggered a rapid loss of momentum, with XRP now trading just above its crucial $2 level. Today’s move above $2.00, however, signals a short-term bounce that traders are watching closely.

On-chain metrics flash weakness

Network data is showing signs of deterioration.

Total value locked (TVL) on the XRP Ledger has dropped approximately 12.5% to US$54.2 million, indicating reduced participation and weakening decentralized finance activity.

This decline has cast doubt on XRP’s use-case strength, especially as competing networks show more resilient metrics under similar market conditions.

Open interest in XRP derivatives has also plunged by nearly 36%, with funding rates turning negative. These data points suggest traders are shifting to a more bearish stance, expecting lower prices ahead.

XRP is displaying a descending triangle pattern on technical charts—often considered a bearish signal—alongside a “death cross” where the 50-day moving average dips below the 200-day average.

Support zones and possible downside targets

According to technical analyst EGRAG Crypto, the $2.10–$2.09 range had served as a major support level aligned with the 200-day moving average.

But repeated tests have weakened this zone, making a decisive break more likely.

If XRP fails to hold above $2, the next demand zone sits between $1.90 and $1.77.

A further breakdown could see XRP testing the $1.47 support level, and in the worst-case scenario, analysts warn of a sub-$1 drop if panic selling sets in.

But with today’s recovery to $2.02, the $2 mark may hold for now, at least temporarily delaying this downside path.

ETF hopes and bounce arguments remain

Despite the bearish setup, some market participants remain optimistic. XRP recently showed a quick V-shaped recovery from around $1.91 to reclaim the $2 level, backed by roughly US$4 billion in futures trading volume.

This bounce, while short-lived, demonstrated that there is still demand at lower levels.

CasiTrades, a well-followed trader, has suggested that a successful defence of the $2 level could open up a path toward $3, especially if volume holds and macro news improves.

Meanwhile, event-based prediction platform Polymarket shows more than 80% odds for a spot XRP ETF approval later this year, giving bulls a potential catalyst to look forward to.

With XRP now trading at $2.02, attention is back on whether this bounce has enough volume and momentum to push further upward—or whether sellers will return around this level.

Outlook hinges on technicals and regulation

XRP is now at a crucial inflection point. If the $2 support level fails to hold, downside risks could accelerate, potentially taking the price toward $1.47 or lower.

On the other hand, holding above $2 amid improving ETF sentiment and calming geopolitical tensions could set the stage for a reversal toward $2.30–$2.33 and beyond.

Market watchers are advised to monitor ETF news closely, particularly from the SEC, while keeping an eye on network metrics and price behaviour around key support levels.

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Gains Network (GNS) down 19% today: Is it the end of its recovery?

  • The Gains Network (GNS) token price has dropped 19.3% today after a 31% weekly rally.
  • Rising Bitcoin dominance has fueled an altcoins’ weakness and retail sell-offs.
  • The ongoing GNS burn vote is key to GNS’s next move, with the current support being at $1.39.

Gains Network (GNS), a popular decentralised derivatives trading protocol on Arbitrum, has seen its token price plunge 19.3% in the last 24 hours, raising concerns over whether the recent bullish recovery is now fading out.

While GNS had surged by 31% over the past week, today’s sharp pullback has triggered nervous speculation among traders who had begun positioning for a breakout toward higher levels.

Notably, the sell-off follows what appears to be a combination of technical exhaustion, profit-taking, and broader market weakness among altcoins.

Profit-taking has met overheated charts

One of the immediate triggers for the current dip was likely a round of aggressive profit-taking after the strong 7-day rally that had propelled GNS to a local high of $2.50.

Prior to the drop, the 14-day Relative Strength Index (RSI) had surged to 82, firmly placing GNS in overbought territory and historically signaling a short-term correction.

As selling pressure increased, the token dropped below its 200-day Exponential Moving Average (EMA) at $1.57, a level that had been acting as key support just days earlier.

Although the MACD histogram remained slightly positive at +0.063, momentum indicators revealed that bullish strength was fading rapidly, leaving the door open for further downside.

Gains Network (GNS) price chart

Adding to the concern, trading volume fell 14% to $45.2 million over the past 24 hours, indicating weakening buying interest and reduced conviction in the latest rally.

Bitcoin dominance has stolen the spotlight

Market-wide dynamics have also played a major role in amplifying the GNS decline, as Bitcoin’s dominance rose to 64.83%, its highest level in months.

In periods of rising Bitcoin dominance, altcoins often suffer as capital rotates into the more stable and liquid BTC market, leaving smaller tokens exposed to increased selling.

The Altcoin Season Index, currently reading 14, suggests that we are firmly in a “Bitcoin Season,” a historically bearish phase for mid-cap tokens like GNS.

In addition, GNS shares a strong 30-day correlation of 0.76 with Bitcoin, meaning that major shifts in BTC’s price and sentiment often echo across the GNS chart.

The broader crypto market has entered a risk-off mood, as shown by the Fear & Greed Index dropping to 37, reinforcing pressure on altcoins already stretched by recent gains.

Gains Network (GNS) governance vote looms large

Despite today’s pullback, GNS remains one of the more fundamentally robust DeFi tokens, thanks to a pending governance proposal that could reshape its tokenomics.

The community is currently voting on whether to extend the protocol’s buyback-and-burn model indefinitely, after a successful trial in late 2024 that sparked a 60% price rally.

Under the proposed framework, 90% of staking rewards and protocol revenue—$603,000 in May alone—would be permanently redirected toward burning GNS tokens.

This move, if approved, would lock in a deflationary model that could significantly enhance long-term value by reducing supply over time.

However, the token’s distribution remains heavily skewed, with whale wallets controlling 76.6% of the supply, a factor that increases short-term volatility and makes GNS more sensitive to sentiment shifts.

Competition and sustainability in focus

While GNS remains the second-largest derivatives protocol on Arbitrum, just behind GMX, rising competition poses a credible threat to its market share.

Ostium Labs, a newer rival, generated $530,000 in protocol revenue in May, signaling that challengers are beginning to eat into GNS’s dominance in the niche.

Nonetheless, Gains Network continues to operate at a gross margin of 98%, reflecting high operational efficiency and a sustainable business model.

Whether GNS can maintain its edge may depend on its ability to diversify revenue streams and expand beyond Arbitrum to other ecosystems like zkSync, Base, or Polygon.

Protocol-level innovation, rather than just token momentum, will likely decide how resilient GNS remains in the face of competitive pressure.

A test of resilience or a trend reversal?

For now, GNS is testing key technical support at $1.39, which represents the 78.6% Fibonacci retracement level of its most recent price swing.

Holding this level could stabilise price action and prevent deeper losses, especially if market conditions improve and Bitcoin dominance begins to taper off.

Traders and investors will be watching closely for the outcome of the burn proposal vote, which could re-ignite bullish sentiment if passed.

While today’s drop is significant, it may not necessarily signal the end of GNS’s recovery, but rather a healthy correction in an otherwise strong, narrative-driven trend.

With protocol fundamentals still intact and community engagement rising, Gains Network’s next move will depend as much on sentiment and governance as it will on market cycles.

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