BTC is hovering around $100,000, while ETH is trading at $2,250.
Major digital assets posted mild gains on Monday, rebounding from weekend losses sparked by the United States’ involvement in the ongoing Middle East conflict.
Bitcoin (BTC) is up 1% on the day to $100,500, up from a low of $99,000 over the weekend, but still down from a recent high of $106,000 on Friday. Meanwhile, Ethereum (ETH) increased by 2.6% to $2,236, XRP climbed by 3% and is currently changing hands at $2, and Solana (SOL) recorded an increase of 3.2% to $132.
The total cryptocurrency market capitalization remained flat in the past 24 hours at around $3.22 trillion. Leveraged liquidations amounted to $380 million in the same time frame, according to CoinGlass. ETH accounted for $139 million, while BTC trailed with nearly $98 million. Altcoins contributed to around $38 million in liquidations.
U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $6.37 million in inflows on June 20. Meanwhile, spot ETH ETFs recorded $11 million in outflows, according to SoSoValue data.
Tenth Week of Inflows
CoinShares’ weekly Fund Flows report found that digital asset investment products recorded a tenth consecutive week of inflows, totaling $1.24 billion and bringing year-to-date inflows to $15.1 billion.
BTC and ETH recorded inflows of $1.1 billion and $124 million, respectively. The U.S. led regional inflows with $1.25 billion, while Hong Kong and Switzerland recorded outflows of $32.6 million and $7.7 million, respectively.
“However, the surge in activity earlier in the week tapered off in the latter half, likely due to the US Juneteenth holiday and emerging reports of US involvement in the Iran conflict,” the report reads.
Heightened Volatility
Experts say the market volatility reflects investor caution amid heightened tensions between Iran and Israel, following U.S. airstrikes on three Iranian nuclear sites over the weekend.
“Global chaos has caused Bitcoin to fall sharply over the weekend, breaking below the key $100,000 psychological level for the first time in more than 6 weeks,” said Mena Theodorou, Co-founder at crypto exchange Coinstash.
Theodorou said the dip is largely due to escalating conflict between the U.S. and Iran, as well as a broader risk-off sentiment in global markets. Over $1 billion in long positions were liquidated across the crypto market since June 20.
“BTC closed the week at $100,982 (-4.34%), and has continued to rebound above $100,000, currently trading at $101,000,” Theodorou said. “Ethereum also pulled back, faring worse in comparison to BTC.”
Despite the decline, Theodorou noted that ETH is still seeing modest net institutional inflows. “However, broader uncertainty has kept bullish momentum capped, with political tension and a broader bearish tone persisting across the market,” he said.
