Last night, in the early hours, the U.S. military launched a new round of airstrikes on more than a dozen military targets inside Iran under the pretext of "retaliating for the oil tanker attack," and the situation in the Strait of Hormuz immediately spiraled out of control. Hit by this black swan event, the crypto market saw a broad sell-off, with over $100 million in liquidations across exchanges and the fear index plunging to freezing point.

Geopolitical conflicts:

• After the U.S. airstrikes on Iran, Iran's Revolutionary Guard vowed to make U.S. military bases experience "hell," and the situation has deteriorated extremely.

• The Israeli military ignored the Lebanon-US-Israel framework agreement and launched another airstrike on southern Lebanon, with Hezbollah condemning the agreement as invalid—the Middle East powder keg is on the verge of ignition.

Crypto market conditions:

• Although BTC is holding the $60k support level, the selling pressure above is heavy; if it breaks below the $59k support, a new round of decline may begin.

• The regulatory iron curtain from the U.S. and Europe has fallen: the EU's MiCA law takes effect on July 1, causing platforms like Binance to face delisting crises, while the expectation of Fed rate hikes intensifies, accelerating liquidity depletion.
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