Last week, the cryptocurrency market endured significant fluctuations driven by both internal and external factors, notably the tension between Iran and Israel.
Geopolitical Turmoil and Its Impact on the Market
On June 25, Bitcoin fell below $100K for the first time since April, leading to over $1 billion worth of liquidations. This was primarily triggered by news of US involvement in the conflict on Israel's side. However, after a brief spike in tensions, markets reacted positively, with Bitcoin rallying to $108K the following day.
Chainlink and Mastercard Partnership
Chainlink, a leading oracle provider, announced a partnership with Mastercard aimed at simplifying the crypto purchase process for 3 billion of its users.
Ripple vs SEC Legal Battle
The Ripple v. SEC case was expected to conclude this week, but the presiding judge dismissed the parties' motion for indicative ruling, potentially dragging the case out for several more months.
Despite market volatility and rising geopolitical risks, Bitcoin displayed resilience, while many altcoins took a more substantial hit. The coming weeks will be interesting to observe.
