Crypto Market Liquidations, Ethereum and Bitcoin Forecasts, Israel-Iran Conflict, and US Protests

Crypto Market Liquidations Exceed $1.15 Billion in 24 Hours

Over the past 24 hours, crypto market liquidations have surpassed $1.15 billion, with approximately $1.05 billion of this amount attributed to long positions. Such significant liquidations have resulted from abrupt price drops and increased market volatility.

Israel Strikes Iranian Nuclear Facilities, Heightening Tensions

Israel executed over 300 airstrikes on Iranian nuclear sites, dramatically escalating geopolitical tensions. Israeli Prime Minister Netanyahu vowed continued operations, while Iranian authorities promised retaliatory measures, escalating fears of broader regional conflict.

Trump’s Military Parade and Mass Opposition Protests in the US

On Saturday, coinciding with the 250th anniversary of the US Army and President Trump’s 79th birthday, a military parade organized by Trump will take place. Concurrently, opposition groups plan mass protests named “No Kings Day” in over 2,000 cities, expecting over 3.5 million participants. Trump vowed to use “very strong force” against demonstrators, exacerbating domestic tensions.

Major Investors Argue Ethereum Is Significantly Undervalued

Key Ethereum backers released a report titled “Bull Case for ETH,” arguing Ethereum is substantially undervalued. The report compares ETH to oil and major reserve assets, highlighting its low inflation, staking yields, and token-burning mechanisms. Predictions include a short-term price rise to $8,000, a potential medium-term value of $80,000, and a long-term scenario reaching $740,000 under maximal adoption conditions.

Deribit Crypto Options Worth $3.7 Billion Expire, Potentially Increasing Volatility

Today at 11:00 MSK, approximately $3.7 billion worth of crypto options will expire on Deribit. The volume includes $3.04 billion for Bitcoin (Max Pain at $107,000) and $687 million for Ethereum (Max Pain at $2,700), potentially causing increased short-term market volatility.

Galaxy Digital CEO Predicts Bitcoin Price to Reach $1 Million

Mike Novogratz, CEO of Galaxy Digital, stated that Bitcoin could reach a price of $1 million, gradually replacing gold as a primary store of value. Institutional investor interest and growing global trust in cryptocurrencies are cited as driving factors.

US Senate Schedules Final Vote on GENIUS Act for June 17

The final Senate vote on the GENIUS Act, aimed at regulating stablecoins in the US, is scheduled for June 17. Its adoption could significantly impact crypto industry regulation and digital asset management.

GameStop Raises Convertible Bond Issue to $2.25 Billion for Strategic Investments

GameStop increased its convertible bond offering from $1.75 billion to $2.25 billion. The funds are earmarked for corporate investments and potential acquisitions in technology and crypto sectors.

Tony G Fund Invests $438,800 in HYPE Cryptocurrency

Tony G’s investment fund injected $438,800 into HYPE tokens, causing a 742% surge in its share price. This highlights increasing investor interest in emerging crypto projects.

SEC Withdraws Previously Proposed Regulations on DeFi and Custody

The US Securities and Exchange Commission (SEC) withdrew earlier proposals by Chairman Gary Gensler related to regulating DeFi and custody of digital assets. This withdrawal alleviates regulatory pressure on the crypto market.

Shopify to Integrate USDC Payments by End of 2025

Shopify announced plans to integrate USDC payments via the Base platform by late 2025. Pilot testing will begin this June in the US and Europe, significantly expanding crypto usage in e-commerce. Shopify supports over 4.5 million stores worldwide.

Macroeconomic Update: Oil and Gold Prices Surge, Bitcoin Faces Pressure

Oil prices experience the largest growth in five years, termed a “God Candle.” Gold approaches record closing highs, while Bitcoin remains under pressure and shows a declining trend.