The recent surge in the cryptocurrency market appears to be losing momentum.
Bitcoin and other digital currencies are giving back some of their gains
following reports that Iran has violated the ceasefire agreement with
Israel. This agreement, brokered by U.S. President Donald Trump on Monday,
is now in jeopardy. Consequently, liquidations in the crypto market have
spiked to $500 million, with a significant increase in long liquidations
observed in the past hour.
Crypto Market Liquidations Surge as Iran-Israel Peace Deal Falters
Renewed volatility is sweeping through the crypto markets as tensions rise
due to Iran’s alleged breach of the ceasefire, jeopardizing ongoing peace
negotiations. Despite
President Trump’s announcement of a ceasefire
and his call for restraint, the violation reportedly occurred within hours.
In response to Iran’s actions, Israel’s defense minister announced that its
military will initiate “intense strikes on regime targets in Tehran.”
⭕️”In light of the severe violation of the ceasefire carried out by the
Iranian regime, we will respond with force.”-The Chief of the General Staff, LTG Eyal Zamir in a situational
assessment now— Israel Defense Forces (@IDF)
June 24, 2025
After exceeding $106,000 earlier today, Bitcoin’s price has retreated,
falling below $105,000 at the time of this report. Prominent crypto analyst
Michael van de Poppe suggests that this is an opportune moment to buy the
dips. On the X platform,
Poppe stated:
“Bitcoin has undergone a trend reversal and is now in an uptrend after a
significant liquidation event drove prices below $100,000. Having broken
through $103,000 and reached the next resistance level, now is the time
to consider buying the dip. Targeting the $103,000 zone for accumulation.”
Donald Trump Urges Federal Reserve to Cut Rates
Speculation around
potential interest rate cuts by the Federal Reserve
is intensifying, with many anticipating a possible move as early as July.
In a recent post on Truth Social, former U.S. President Donald Trump
criticized Fed Chairman Jerome Powell for his decision to maintain current
rates at the June FOMC meeting. Trump wrote:
“With no inflation and a strong economy, rates should be at least two to
three points lower. This would save the USA $800 Billion Dollars Per
Year, plus. What a difference this would make.”
Trump further suggested that Powell could raise rates again if the initial
cuts do not yield the desired results. He concluded, “I hope Congress really
works this very dumb, hardheaded person over. We will be paying for his
incompetence for many years to come.”
Bhushan Akolkar
Bhushan is a seasoned crypto writer with over eight years of experience
spanning more than 10,000 contributions across multiple platforms like
CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a
Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi,
Global Macros with a keen understanding in financial markets. He is
committed to continuous learning and stays motivated by sharing the
knowledge he acquires. In his free time, Bhushan enjoys reading thriller
fiction novels and occasionally explores his culinary skills. Bhushan has
a bachelors degree in electronics engineering, however, his interest in
finance and economics drives him to crypto and blockchain.
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