Global Financial Market Summary

Global financial markets ended a turbulent week marked by escalating tensions between Israel and Iran, with traditional assets experiencing significant volatility while cryptocurrencies demonstrated surprising resilience.

Israeli strikes on Iranian nuclear facilities on June 13 sent shockwaves through equity markets, leading to a flight to safety across multiple asset classes.

The S&P 500 dropped half a point last week, falling below the psychologically important 6,000 level following news of the airstrikes. The tech-heavy Nasdaq Composite declined 1.3% as investors grappled with potential wider Middle Eastern conflict implications.

Gold futures surged as much as 3.17% to around $3,468 per ounce as investors sought traditional safe-haven assets, while crude oil prices experienced extreme volatility. West Texas Intermediate crude futures spiked almost 13% last week, reflecting concerns about supply disruptions from the world’s third-largest OPEC producer.

Despite these geopolitical headwinds, the cryptocurrency market showed remarkable resilience. The total crypto market capitalization increased 2.21% to $3.36 trillion, with trading volume surging 35.17% to $110.32 billion, according to Coinmarketcap. The Fear & Greed Index measures investor sentiment, sitting at a neutral 50, reflecting a balance between caution over geopolitical risks and optimism driven by institutional developments.

Bitcoin Surges 1.86% to $107,358 on Trump ETF Catalyst

Bitcoin demonstrated its evolving role as a non-correlated asset, climbing 1.86% to $107,358 over the past 24 hours despite the geopolitical turmoil. The catalyst today for crypto? President Donald Trump and his media group announced plans to launch a joint Bitcoin and Ethereum ETF, according to an SEC filing.

The proposed exchange-traded fund would allocate 75% to Bitcoin and 25% to Ethereum, with U.S.-based exchange Crypto.com serving as the exclusive custodian and prime execution agent. Yorkville America Digital sponsors the fund, with shares expected to list on NYSE Arca pending SEC approval. This represents the latest expansion of Trump’s crypto ecosystem and could unlock billions in institutional flows if approved.

Adding fuel to the rally, Japanese investment firm Metaplanet executed a massive Bitcoin acquisition, purchasing 1,112 BTC for $117.2 million at an average price of $105,435. The purchase boosted Metaplanet’s total holdings to 10,000 BTC, with CEO Simon Gerovich emphasizing its strategic nature, targeting 210,000 BTC by 2027.

Bitcoin has been consolidating within a critical zone between $100,000 and $110,000 since mid-May. The Average Directional Index (ADX) reads 26, indicating a moderately strong uptrend with room for further acceleration. An ADX above 25 confirms legitimate trend momentum, though it hasn’t reached the extreme levels above 40 that often precede major corrections.

The 50-week Exponential Moving Average (EMA) on the weekly chart for Bitcoin sits at $85,941, providing crucial support during recent pullbacks. The 200-week EMA at $55,132 confirms the long-term bullish market structure. The significant gap between the current price and the 200 EMA suggests powerful underlying momentum.

The Relative Strength Index (RSI) reads 65 on the weekly timeframe, approaching but not reaching overbought territory above 70, indicating room for continued upside. The weekly candle opened at $105,612, forming what appears to be a bullish engulfing pattern if it closes above last week’s high of $107,788.

Key Bitcoin Levels to Watch:

• Resistance: $110,000 (channel top), $111,970 (ATH)
• Support: $105,409 (weekly pivot), $100,000 (psychological), $85,941 (50-week EMA)

Ethereum Outperforms with 3.9% Surge to $2,649

Ethereum posted the strongest gains among major cryptocurrencies, rallying 3.9% to $2,649 as the Trump ETF filing positioned it alongside Bitcoin in a major institutional product. Trading volume exploded 49.5% to $19.7 billion, significantly outpacing Bitcoin’s volume increase and confirming strong buyer conviction.

Technical momentum aligns with improving fundamentals following May’s successful Pectra upgrade, which raised staking limits for validators and increased scaling capacity for layer-2 networks.

The weekly chart shows Ethereum breaking from a multi-week consolidation pattern, testing an important retracement level at $2,752. The bounce from the support at $2,523 was decisive, with expanding volume confirming genuine accumulation.

The ADX reads 23 on the weekly timeframe, indicating a weak to moderate trend beginning to gain strength. While an ADX below 25 typically suggests consolidation, the recent uptick and price breakout signal potential for trend acceleration.

The 50-day EMA on the weekly chart is approximately $2,574, with the current price trading above this key level for the first time in weeks. The current gap has stopped shrinking, suggesting a weakening of bearish correction before a major jump.

The RSI reads 55 on the weekly timeframe—neutral, slightly bullish territory offering flexibility for directional movement. This positioning suggests the rally has substantial room to run before reaching overbought conditions above 70.

Key Ethereum Levels to Watch:

• Resistance: $2,752 (0.236 Fib), $2,800 (round number), $3,000 (psychological)
• Support: $2,523 (0.618 Fib), $2,400 (volume POC), $2,270 (200-week EMA)

Disclaimer:
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.