Global Markets Analysis: Crypto Resilience amid Turmoil

Despite escalating geopolitical tensions between Israel and Iran sending traditional markets into volatility this week, the cryptocurrency market demonstrated notable resilience, with significant gains led by Bitcoin and Ethereum following news of a planned Bitcoin-Ethereum ETF filing.

In Brief

• Bitcoin climbed 1.86% to $107,358 after Trump Media filed for a Bitcoin-Ethereum ETF listing.
• Ethereum surged 3.9% to $2,649, boosted by its allocation in the ETF and a technical breakout.
• While global markets reeled from the Israel-Iran escalation (causing major losses in equities and gold gains), crypto trading volume jumped nearly 16%, signaling renewed investor conviction.
• Bitcoin’s market cap rose 2.21% to $3.36 trillion in the past week, while its price oscillated near psychologically significant levels.

Geopolitical Headwinds Met with Crypto Resilience

Israeli strikes on Iranian nuclear facilities on June 13 triggered a sharp sell-off across global equity markets. The S&P 500 fell below the key 6,000 level, while the tech-heavy Nasdaq Composite dropped 1.3%. Crude oil prices reacted with extreme volatility, although gold futures saw significant gains targeting $3,468 per ounce as investors sought traditional safe havens.

During this week of heightened geopolitical uncertainty, cryptocurrency markets performed counter-cyclically. Trading volume notably increased by nearly 15%, contributing approximately $110.32 billion in turnover. The influx of new buyers was underscored by a major Bitcoin purchase by Japanese firm Metaplanet.

Bitcoin Accommodated At $107,358 on ETF Catalyst

Bitcoin’s climb to $107,358 represents its highest level since January 2024. The primary catalyst appears to be the SEC filing by President Donald Trump’s media group for a joint Bitcoin and Ethereum ETF, raising institutional investment possibilities for government-endorsed products.

The proposed fund would be heavily weighted toward Bitcoin (75%) with a 25% allocation to Ethereum, potentially drawing significant institutional capital if approved. A simultaneously executed Bitcoin purchase by Japanese investment firm Metaplanet further underscored institutional confidence.

Bullish signs on the weekly Bitcoin chart include price consolidation between $100k and $110k, a moderately strong ADX reading of 26, and a floor established by the 50-week EMA ($85,941). The current RSI reading of 65 suggests the possibility of moderate further upside without immediate overbought exhaustion.

Key levels to monitor include resistance near $110,000 (weekly chart channel top) and $111,970 (all-time high), with key support near $105,400 (previous daily pivot) and $100,000 (psychological barrier).

Ethereum Outperforms in Early Week Rally

Ethereum advanced 3.9% this week to $2,649, driven by its inclusion alongside Bitcoin as an institutional investment option via the planned ETF. Trading activity expanded significantly by 49.5%. Its technical profile displays strength, with the 50-week EMA providing robust support.

The network benefits from improving underlying fundamentals following upgrades that enhance scalability and staking capabilities. Supportive volume patterns establish accumulation near the $2,500 range. The recent breakout with expanding volume following a consolidation pattern suggests continuation potential.

Key resistance levels on the Ethereum chart include $2,752, $2,800, and the psychological $3,000 barrier. Price continues to respect well-defined support zones with the 200-week EMA ($2,270) providing a longer-term bullish anchor despite recent setbacks.