1. Market Overview
Over the weekend (June 21–22), the global crypto market capitulated as geopolitical and macro pressures intensified. Bitcoin tumbled 4.13%, slipping to $99,237 by Sunday afternoon, while Ethereum plummeted about 8.52% to $2,199. According to YCharts data, Bitcoin’s market capitalization declined from $2.060 trillion on June 21 to $2.041 trillion on June 22, contributing to an estimated 3.2% drop in the total crypto market cap, which now hovers around $3.14 trillion.
2. Crypto Market Sentiment
Investor risk appetite soured sharply as fresh U.S. airstrikes on Iran’s nuclear sites stoked fears of broader conflict. Crypto—traditionally seen both as a risk asset and geopolitical hedge—reacted violently, with leveraged positions unwinding rapidly. This weekend’s liquidations surpassed $1 billion, underscoring the intensity of the selloff. Sentiment gauges, including on-chain metrics and funding rates, flipped decisively negative, marking a clear risk-off tilt across retail and institutional desks.
3. Key Development
- Trump Media Files for Bitcoin–Ether ETF with SEC
Trump Media & Technology Group filed with the SEC to launch a Bitcoin & Ether ETF, allocating 75% to BTC and 25% to ETH. Crypto.com is expected to provide liquidity. This move, part of a broader “America First economy” strategy, follows Trump’s earlier announcement of raising $2.5 billion to build a national Bitcoin treasury.
- Iran’s Nobitex Hit by $100M Hack Amid Internet Blackout
Iran’s major exchange Nobitex reportedly suffered a $100 million cyberattack by the hacker group "Predatory Sparrow." This incident coincided with a near‑nationwide internet shutdown tied to the Iran–Israel conflict, underlining the heightened cyber-risk in sanctioned economies.
- Justin Sun Brings Tron (TRX) Public via Reverse Merger
Justin Sun announced the SPAC-style reverse merger of Tron with Nasdaq-listed SRM Entertainment—rebranded “Tron Inc.” The move aims to raise $100 million to support Tron’s $26 billion ecosystem and reflects accelerating crypto-company IPO activity.
