QCP Asia: Escalating geopolitical conflicts drag down the market, BTC falls 3%
PANews June 13 news, according to QCP Asia analysis, Israel's airstrike on Iran's nuclear facilities and the death of the Iranian Revolutionary Guard Commander-in-Chief Salami triggered a surge in safe-haven assets, with both oil and gold rising, S&P 500 futures falling below 6,000 points, BTC falling by about 3%, and ETH falling by 9%. The volatility of the crypto market soared, and the premium of BTC's front-end put options reached 5 fluctuation points, indicating a strong demand for safe-haven. At the same time, the large-scale outage of the US Internet hit technology stocks, triggering more than $1 billion in long liquidations in the crypto market. Despite this, institutional demand still supports BTC, and DeFi Development Corp announced a $5 billion allocation of funds to SOL, highlighting that confidence in mainstream currencies has not diminished.
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