According to Charmaine Tam, Head of OTC at Hex Trust, Ethereum's (ETH) recent outperformance, with a 40% gain over three months per market data, serves as a leading indicator for capital flows into altcoins like Pendle and Bittensor. ETH dominance rose to nearly 10% while BTC dominance fell, signaling trader interest in emerging sectors such as DeFi and decentralized AI, supported by on-chain inflows and institutional demand with spot ETH ETFs attracting over $1.25 billion since mid-May. Concurrently, geopolitical tensions from an Israeli attack on Iran caused BTC to drop 4.7% to around $103,000 and ETH to $2,694, as per market movements. Singapore's Monetary Authority of Singapore (MAS) now mandates licenses for offshore crypto firms by June 30, prompting exchanges like Bitget and Bybit to shut down, a move linked to past oversight issues with Three Arrows Capital and Terraform Labs, according to regulatory updates. Additionally, Quranium launched QSafe Wallet, a quantum-secure solution for BTC, SOL, and EVM chains, to address future cryptographic threats.

According to Francisco Rodrigues, cryptocurrencies declined sharply due to Israeli airstrikes on Iran, with Bitcoin (BTC) falling 2.9% and a broad crypto market index losing 6.1%, as geopolitical tensions drove investors away from risk assets. Jake Ostrovskis, an OTC trader at Wintermute, noted that SOL initially rallied on SEC ETF filing updates but dropped nearly 9.5% amid the conflict. Data from Velo shows derivatives open interest plummeted to $49.31 billion, and CoinGlass reported $1.16 billion in liquidations, primarily from long positions. Gold futures rose 1.3%, highlighting a flight to traditional havens.

According to Francisco Rodrigues, cryptocurrencies declined sharply due to Israeli airstrikes on Iran, heightening geopolitical risks and triggering a broad market rout. Bitcoin (BTC) fell 2.9% over 24 hours, while a crypto market index dropped 6.1%, as investors fled risk assets. Jake Ostrovskis, an OTC trader at Wintermute, noted Solana (SOL) slid nearly 9.5% despite earlier ETF optimism. Spot BTC ETFs saw $86.3 million in daily net inflows, and ETH ETFs recorded $112.3 million, per Farside Investors data. Polymarket traders indicated a 91% probability of Iranian retaliation, increasing market uncertainty. (Sources: Francisco Rodrigues, Jake Ostrovskis, Farside Investors, Polymarket)

According to Ai 姨, a large position opened has resulted in Bitcoin dropping by $2000. The unrealized profit from this position has increased to $314,000. There has been no reduction or closing of the position as of now, and updates will be provided in the thread.