Bitcoin Keeps Unstable by International Situation

BTC Plunges Morning On Trump's Alert to Iran
Defending $106,000 On Low-Buy In Afternoon
Altcoin Stops Dive And Maintains Price Range
CryptoQuant Points To Decline Inflow Of Stablecoin

Bitcoin(BTC) went sideways during the day on the buying spree that followed a sharp drop on the morning of Jun. 17.

The cryptocurrency market, including Bitcoin, plunged in the morning as U.S. President Donald Trump left an air raid warning on Iran on his SNS on Jun. 16.

"Iran should have made a deal," Trump wrote on his social media account 'Truth Social' on Jun. 16. "What a pity it is and what a sacrifice it is for human life." "Everyone should leave (Iran's capital) Tehran immediately."

A number of altcoins, including Bitcoin, plunged 2% on the interpretation that the war would begin in earnest in the Middle East.

Cryptocurrency markets, including Bitcoin, maintained their morning price range, preventing further declines on low-priced purchases that flowed into the market in the afternoon. A number of altcoins were flat, including Bitcoin maintaining the $106,000 level.

◇Bitcoin = Bitcoin price is $106,658 at 4:30 p.m. on Jun. 17, 2025. Bitcoin's share(Dominance) stood at 64.75%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 40.18% and 59.82%, according to the on-chain analytics platform Sigbtc.

Amid some confusion in the international situation, it has been predicted that Bitcoin could fall based on a decrease in the inflow of stable coins.

CryptoQuant, an on-chain analysis platform, pointed out in a report published on the 17th that the inflow of major stable coin tethers(USDT) and USDCs on the exchange has decreased significantly.

In general, Tether and USDC are used to purchase cryptocurrencies including Bitcoin on the exchange. Accordingly, a decrease in the inflow of Tether and USDC is interpreted as a decrease in buying.

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Jun. 17 was Stratis(STRAX), up about 9% on the day alone.

STRAX is a Bitcoin-based cryptocurrency and is a blockchain-as-a-service (BaaS) platform that allows companies to build customized blockchains without burden to operate their own blockchain network infrastructure through the main Stratis blockchain and private chains.

Stratis provides hosting and consulting for Dapp and allows other major blockchain platforms such as Ethereum (ETH), Bitsshare, and Risk to be raised in a private manner.

◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered the 'greed' phase with 68 points. The Greed phase is a phase where price volatility and trading volume increase, and the price increases. The government should be cautious about selling products as it is highly likely to form a short-term high.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 52.0, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of over-purchasing and over-selling of a particular asset.

권승원 기자 ksw@blockstreet.co.kr