The cryptocurrency market faced a significant downturn as Bitcoin slipped below the $103,000 mark, sparking a wave of sell-offs across major altcoins. This decline comes amid heightened geopolitical tensions, with Israel confirming strikes on Iran’s nuclear facilities, fueling a risk-off sentiment among investors and prompting widespread profit-taking .
Market Overview: Risk-Off Sentiment Dominates
• Bitcoin (BTC): The leading cryptocurrency fell to $102,664, marking its third consecutive day in the red. The drop erased gains from earlier in the week, with BTC down nearly 2% over the past seven days. Technical indicators show Bitcoin finding temporary support at its 50-day Exponential Moving Average (EMA) around $104,458, but momentum remains weak. The Relative Strength Index (RSI) at 45 signals declining bullish strength, and the MACD suggests a continued pullback phase. If Bitcoin closes below the 50-day EMA, the next key support is at $100,372, its 30-day low .
BTC/USDT daily price chart.
• Altcoins Under Pressure: The negative sentiment quickly spread to top altcoins. Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) each dropped nearly 10% in the last 24 hours, while XRP (XRP) lost 6% over the same period .
Spotlight on Major Decliners
| Coin | Price (June 13) | 24h Loss (%) | Key Support Level | Technical Outlook |
| FARTCOIN | $1.09 | -18.14% | $0.92 | RSI at 45, MACD bearish, risk of falling below $1 |
| ENA | $0.29 | -14.35% | $0.25 | RSI at 41, MACD bearish, testing $0.28 support |
| LDO | ~$0.80 | -12% (est.) | $0.74 | RSI at 44, MACD bearish, failed to hold $1 resistance |
FARTCOIN: Testing Key Psychological Support
Fartcoin (FARTCOIN) has seen a sharp reversal, dropping over 18% in 24 hours to $1.09. The token is now below its 50-day EMA ($1.13) and risks breaching the $1 psychological support. If this level fails, the next support is at $0.92, last seen in early May. Technicals show increasing bearish momentum, with both RSI and MACD pointing to further downside. A recovery above $1.36 could signal a reversal, but for now, sellers remain in control.
FARTCOIN/USDT daily price chart.
ENA: Downtrend Continues, Eyes on $0.25
Ethena (ENA) extended its losing streak, falling over 14% to $0.29. The coin is testing support at $0.28, with the next major level at $0.25 if the decline continues. The RSI is nearing oversold territory, and the MACD has turned negative, indicating persistent bearish pressure. A move above $0.30 could stabilize the price, but the trend remains downward.
LDO: Fails to Hold $1, Faces Further Downside
Lido DAO (LDO) failed to sustain a breakout above the $1 resistance and has since retreated below its 50-day EMA. The altcoin is now retesting a broken trendline, with technicals suggesting a possible drop toward $0.74 if the downtrend persists. The RSI and MACD both confirm weakening momentum, and only a reversal above $1 would improve the outlook .
Geopolitical Tensions Amplify Volatility
The current market turbulence is closely tied to escalating tensions in the Middle East. Israel’s confirmed strikes on Iran’s nuclear sites have heightened uncertainty, leading investors to reduce exposure to risk assets like cryptocurrencies. This environment has triggered over $1.15 billion in liquidations across the crypto market, underscoring the sector’s sensitivity to global events .
What’s Next for Crypto Investors?
• Short-Term Outlook: If Bitcoin fails to hold above its 50-day EMA, further declines toward $100,000 are possible, which could intensify losses across altcoins.
• Potential Recovery: A bounce from current support levels could lead to a period of consolidation, but sustained recovery will likely depend on easing geopolitical risks and renewed investor confidence.
