Global Sentiment Drags Down, Bitcoin Plunges to $61.000 and Gold Price Crashes

Global markets were rocked by a wave of heavy selling that pulled crypto assets and major commodities into negative territory on Wednesday (24/6). Bitcoin suffered a sharp correction, falling below the psychological level of $62.000 and hovering in the $61.000 area, triggering liquidations of long positions worth $72,53 million in just one hour. The drop was followed by Ethereum sliding to the $1.600 level, as well as premium commodity lines such as gold crashing below $4.000 per ounce for the first time since last November.
​This situation was sparked by the surge in the US Dollar Index to its highest peak in the past year, coinciding with a sell-off of risk assets on Wall Street, especially in AI and semiconductor stocks. On the other hand, easing geopolitical tensions after progress on the US-Iran peace agreement reopened the Strait of Hormuz without toll fees. The recovery of this vital trade route immediately dampened crude oil prices to the $70 per barrel level as supplies returned smoothly.
​Although the reopening of the Strait of Hormuz eased concerns about energy supply, US President Donald Trump’s plan to release Iranian funds to be allocated exclusively to large-scale food purchases from domestic US farmers has begun to raise new worries. A large-scale injection of liquidity into the real economy could potentially trigger fresh inflationary pressure at the consumer level. Amid the shadow of potential inflation, the dollar’s excessive strength is currently actually reducing the appeal of gold and Bitcoin as safe-haven assets, forcing a massive outflow of liquidity from digital and commodity markets.#WorldCup🏴󠁧󠁢󠁳󠁣󠁴󠁿vs🇧🇷