Despite a 2% daily retraction, Bitcoin registered relatively strength, as major altcoins corrected up to 6% in the same period.<\/p>\n 2 min read<\/span><\/p>\n Updated:<\/span> Jun. 17, 2025 at 10:13 pm UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n Cover art\/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.<\/p>\n<\/div>\n<\/div>\n Bitcoin (BTC<\/a>) continued its pullback on June 17, sliding over 4% amid renewed military and political friction between Israel and Iran.<\/span><\/p>\n The flagship crypto fell to an intraday low of $103,300\u00a0before bulls stepped in to steady the price and push it back above $104,000,<\/span><\/p>\n As of press time, Bitcoin was trading at $104,439, down roughly 3.87% over the past 24 hours. Meanwhile, the wider crypto market fared relatively worse with a 6% average decline across the board.\u00a0<\/span><\/p>\n The impact on altcoins is highlighted by the nearly $508 million in liquidations in the past 24 hours, with over $167 million attributed to Ethereum (ETH<\/a>) positions, according to Coinglass<\/span> data<\/a><\/strong>.<\/span><\/p>\n ETH was trading at $2,471.72 as of press time, down 5.58% over the past 24 hours, while XRP<\/a> was trading at $2.16 after a 6% decline. BNB<\/a> saw significantly lower volatility over the same period and was down around 1.6% over the past day and trading at $647.77 as of press time.<\/span><\/p>\n Solana<\/a> was down 5.6% and trading at $148.77 as of press time, while Cardano<\/a> was down 5.6% to $0.6175.<\/span><\/p>\n Price action was directly linked to the outbreak of fresh hostilities in the Middle East. Israel said its forces<\/span> killed a senior Islamic Revolutionary Guard Corps<\/a><\/strong> commander in Tehran early on June 17.<\/span><\/p>\n This latest strike in a five-day exchange that has involved missiles, drones, and warnings to civilians.<\/span><\/p>\n In Washington, President Donald Trump<\/a> posted that the US \u201cknows where Iran\u2019s Supreme Leader is hiding\u201d and demanded Iran\u2019s \u201cUNCONDITIONAL SURRENDER,\u201d escalating rhetoric around possible US involvement.<\/span><\/p>\n Traders watch as the prospect of wider regional conflict instigates risk aversion across global assets, including crypto.<\/span><\/p>\n Analysts<\/span> recently highlighted<\/a><\/strong> Bitcoin\u2019s relative strength, calling it a viable alternative to increase a hedge in portfolios.<\/span><\/p>\n Ecoinometrics found that adding a 10% Bitcoin sleeve to a classic 60\/40 allocation lifted the past-year risk-adjusted return to 0.80 with a 14% gain, versus 0.62 and 12% for the same swap into gold.\u00a0<\/span><\/p>\n Fidelity<\/a> strategists Chris Kuiper and Jurrien Timmer say that persistent inflation and policy uncertainty have weakened the hedging role of bonds, making scarce digital assets such as Bitcoin an increasingly favored ballast in diversified portfolios.<\/span><\/p>\n At the time of press 10:13 pm UTC on Jun. 17, 2025<\/span>, Bitcoin<\/a> is ranked #1 by market cap and the price is down 3.85%<\/span><\/strong> over the past 24 hours. Bitcoin has a market capitalization of $2.08 trillion<\/strong> with a 24-hour trading volume of $58.21 billion<\/strong>. Learn more about Bitcoin \u203a<\/a><\/p>\n At the time of press 10:13 pm UTC on Jun. 17, 2025<\/span>, the total crypto market is valued at at $3.25 trillion<\/strong> with a 24-hour volume of $141.25 billion<\/strong>. Bitcoin dominance is currently at 63.90%<\/strong>. Learn more about the crypto market \u203a<\/a><\/p>\n<\/div>\n<\/div>\n![\"bitcoins](\"https:\/\/cryptoslate.com\/wp-content\/themes\/cryptoslate-2020\/imgresize\/timthumb.php?src=https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/05\/bitcoin-down.jpg&w=70&h=37&q=75\")
Bitcoin\u2019s slide below $104k liquidates over $500M as war tensions escalate<\/span> Gino Matos \u00b7<\/span> 2 months ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n![](\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/08\/cs-gino-150x150.jpg\")
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<\/a><\/p>\n<\/div>\nBitcoins Middle East tensions escalate<\/strong><\/h2>\n
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