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Global financial turmoil as Bitcoin breaks through the $100,000 barrier, the crypto market faces new challenges.
The global financial market is experiencing increased Fluctuation, and the Crypto Assets market is facing new challenges.
Recently, the global financial market has shown significant Fluctuation due to the tense geopolitical situation. When the market opened on Monday, the spot gold price surged to 3398 USD/ounce, the Nasdaq index futures dropped by 0.9%, and WTI crude oil prices opened 3.7% higher. Although the market's reaction has been relatively restrained, analysts predict that if the situation remains tense, oil prices could climb to 130 USD per barrel. Against this backdrop, the dollar's movement has become the market focus, and it may strengthen in the short term due to safe-haven sentiment.
The Crypto Assets market is also affected. The price of Bitcoin has recovered to above $100,000 after dropping below $99,000. Analysts have provided several possible trends, including maintaining the current range and reaching new highs, dropping to $95,000 and entering a bear market, or testing $95,000 before rising again to the range of $114,000 to $116,000. Several analysts have emphasized the importance of the key support level at $95,000.
On the Ethereum side, the price performance continues to be weak, dropping below the important support level of $2378. Analysts suggest paying attention to its performance at the resistance level of $2378, as failure to break through may lead to further declines to $2114 or even $2036.
The altcoin market is relatively flat, but there are still some emerging tokens attracting attention, such as $BlackCoin on the Solana chain and $ERC-69 on the Ethereum chain. These tokens often revolve around specific themes or concepts, but their market capitalization remains relatively small.
As of 12:00 HKT on June 23, the Bitcoin price was $101,351, and the Ethereum price was $2,239.19. The market fear and greed index was 37, indicating a state of fear. The market shares of Bitcoin and Ethereum were 64.9% and 8.7%, respectively. In the past 24 hours, a total of 184,598 people were liquidated globally, with a total liquidation amount of $642 million.
Looking ahead, the market will closely watch the speeches of Federal Reserve officials, including those of Fed Governor Bowman and Chairman Powell. In addition, some Crypto Assets projects such as Zilliqa will undergo network upgrades, and certain trading platforms will launch new token trading pairs.
Overall, the current Crypto Assets market is facing a dual test of global financial market Fluctuation and geopolitical uncertainty. Investors need to closely monitor market trends and carefully assess risks.