The Macro Tug-of-War

Welcome to another episode of ‘When Geopolitics Meets Crypto Markets.’ This week delivered a masterclass in how Bitcoin behaves when economic fundamentals and black swan events collide head-on.

Monday’s rally to $110k seemed justified – US CPI came in at 2.4% (below expectations), PPI held steady, and consumer confidence surprised to the upside. The market smelled September rate cuts brewing. Then Wednesday happened.

Middle East Mayhem

When Israel struck Iranian nuclear facilities on June 13th, oil prices spiked 21% in 48 hours. Suddenly, everyone remembered Bitcoin’s inconvenient truth: it’s still classified as a risk asset during acute crises. The resulting $10k BTC dump showed how quickly algorithmic traders react to VIX spikes.

Yet here’s what fascinated me: while gold surged 5%, BTC found support at $102k before rebounding. Why? Three structural factors:

1. Spot ETFs absorbed $13.84B in inflows
2. Long-term holders gobbled up 32k BTC
3. Short-term traders only unloaded 13.7k coins

The Institutional Whisper

Behind the headlines, corporate America kept building crypto positions:

• GameStop boosted its convertible note offering to $2.25B (hodl mode activated)
• SharpLink Gaming became Ethereum’s second-largest known holder with 176k ETH
• Walmart/Amazon stablecoin rumors gained steam

As we enter July, watch two key levels:

• Resistance at $110k (institutional profit-taking zone)
• Support at $98k (‘Trump bottom’ trendline)

Pro tip: When news outlets scream about Middle East conflicts, check the blockchain ledger first. The smart money often moves opposite retail panic.