Bitcoin, Ethereum, XRP, Dogecoin Weaken On Iran-Israel Tensions – Reclaim $105,000 Or Brace For Sideways Summer

The cryptocurrency market is showing weakness at the start of the week, as geopolitical fears intensify with the U.S. stepping deeper into the Iran-Israel conflict. Bitcoin is holding above $100,000 but remains under pressure after weekend volatility.

Notable Statistics:

• IntoTheBlock data shows that Bitcoin and Ethereum’s large transaction volume increased 53.9% and 55.6%, respectively. However, daily active addresses for both witnessed a decline of 10% and 16.3%, respectively.
• CoinGlass data shows that 181,115 traders were liquidated in the past 24 hours, with the total liquidations at $627.86 million.
• SoSoValue data shows net inflows of $6.37 million (as of June 20) into spot Bitcoin ETFs while Spot Ethereum ETFs saw net outflows of $11.3 million.

Trader Notes: Crypto Seth says Bitcoin's high-time-frame strategy remains to hold spot positions, but short-term action hinges on geopolitical developments. If Iran closes the Strait of Hormuz, oil price surges could spark a broader economic shock, potentially dragging crypto lower alongside global markets.

Crypto trader Jelle notes Bitcoin lost its 50-day moving average (MA) and closed back within a prior range, indicating a failed breakout. Reclaiming $105,000 quickly is crucial to avoid a sideways summer of stagnation and uncertainty. The next few days should reveal the market's direction.

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Crypto trader Kevin flags Dogecoin’s battle to hold above the weekly 200 SMA & EMA, along with the macro 0.382 Fib level. The critical support zone to watch is $0.1434–$0.1265. Holding this range keeps DOGE's bullish structure intact.

Ted Pillows observes Ethereum has bounced off the $2,100 support, but to turn bullish, ETH must reclaim $2,350. Failure to break out may lead to a retest of prior lows or even deeper correction.

Cas Abbe sees Solana bouncing cleanly off its support — a bullish signal suggesting strong buyer interest. He believes the pending ETF approval has yet to be priced in, positioning SOL for a potential rally in July.

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