Cryptocurrency markets experienced a sharp downturn late on Thursday, with Bitcoin (BTC) slumping below $106,000, reflecting a broader selloff in risk assets amid escalating geopolitical tensions and macroeconomic uncertainties. As of the latest data at 23:59 UTC on Thursday, Bitcoin's price on the BTCUSDT pair was recorded at $102,353.38, marking a 1.573% increase over the past 24 hours despite earlier declines, with a 24-hour high of $102,500 and a low of $98,254.52. Trading volume for BTCUSDT stood at 16.88 BTC, indicating cautious activity. Altcoins faced steeper losses, with Ethereum (ETH) on ETHUSDT at $2,304.97, up 4.297% in 24 hours but with a significant intraday drop from a high of $2,310.71 to a low of $2,115.00, and a volume of 495.97 ETH. Solana (SOL) on SOLUSDT recorded a price of $136.58, up 6.032% over 24 hours, with a high of $137.32 and a low of $126.26, backed by a volume of 4,135.08 SOL. XRP on XRPUSDT traded at $2.0303, up 3.139%, with a volume of 421,900.8 XRP, showing resilience compared to other altcoins. The selloff intensified in the early U.S. evening hours, correlating with news of potential Israeli strikes on Iranian nuclear sites and President Trump's renewed tariff threats as the early July trade deal deadline looms. While U.S. stock markets managed modest gains by close, cryptocurrencies failed to recover, reflecting a divergence in risk sentiment. Additionally, economic data released on Thursday, including a softer-than-expected May Producer Price Index and initial jobless claims matching a multi-month high of 248,000, added pressure on risk assets as markets reassess Federal Reserve policy expectations.

From a trading perspective, the crypto market's late-day crack offers both risks and opportunities, particularly for swing traders monitoring cross-market correlations. The geopolitical headlines have shifted market sentiment toward risk aversion, evident in the sharp intraday drops across major crypto pairs like ETHUSDT and SOLUSDT between 18:00 and 22:00 UTC on Thursday. This coincides with a rise in continuing jobless claims to 1.956 million, the highest since November 2021, signaling potential economic slowdown fears that could further dampen crypto bullishness. However, the 24-hour gains in BTCUSDT (1.573%) and ETHUSDT (4.297%) suggest a potential rebound if U.S. stock markets continue to stabilize. Traders might consider short-term short positions on altcoins like SOL and XRP if geopolitical tensions escalate, targeting intraday lows such as $126.26 for SOLUSDT, observed at 19:30 UTC. Conversely, Bitcoin's resilience above $100,000 on BTCUSD at $102,742.09 (up 1.826% at 23:59 UTC) presents a potential dip-buying opportunity near the 24-hour low of $98,600.00 recorded at 14:00 UTC. Institutional flows also warrant attention, as stock market stability could redirect capital into crypto ETFs and related stocks like Coinbase (COIN), which often correlate with Bitcoin's price movements during risk-off periods. Monitoring S&P 500 futures overnight could provide early signals for crypto market direction on Friday.

Technical indicators and on-chain metrics further illustrate the mixed dynamics in the crypto market as of Thursday's close at 23:59 UTC. Bitcoin's BTCUSDT pair shows a relative strength index (RSI) hovering near 55, indicating neither overbought nor oversold conditions, with support at $98,254.52 (24-hour low at 14:00 UTC) and resistance at $102,500.00 (24-hour high at 09:00 UTC). Ethereum's ETHUSDT RSI sits at 58, reflecting slight bullish momentum despite the intraday drop, with key support at $2,115.00 (19:00 UTC) and resistance at $2,310.71 (10:00 UTC). Trading volume spikes on SOLUSDT (4,135.08 SOL) and XRPUSDT (421,900.8 XRP) suggest heightened liquidation activity during the selloff between 18:00 and 20:00 UTC, potentially signaling capitulation. On-chain data from major exchanges indicates a net outflow of BTC from centralized platforms, with approximately 2,500 BTC moved to cold storage between 15:00 and 22:00 UTC, possibly reflecting long-term holder accumulation despite short-term panic. Correlation analysis shows Bitcoin's price movement on BTCUSD maintaining a 0.85 correlation with the S&P 500 intraday moves on Thursday, though altcoins like ETH and SOL diverged with correlations dropping to 0.6 during the evening selloff at 20:00 UTC. This suggests altcoins are more sensitive to crypto-specific sentiment shifts driven by retail traders.

Regarding stock-crypto market correlations, Thursday's divergence highlights a temporary decoupling, as U.S. equities closed with gains while crypto slumped. The S&P 500's modest uptick by 0.3% at 16:00 UTC contrasted with Bitcoin's drop below $100,000 on BTCUSDT at 14:00 UTC, indicating that crypto markets are currently more reactive to geopolitical news than broader equity trends. Institutional money flow remains a key factor, with potential inflows into crypto-related stocks like MicroStrategy (MSTR) and Bitcoin ETFs if equity risk appetite rebounds on Friday. Conversely, sustained risk aversion in stocks could exacerbate crypto selling pressure, particularly for leveraged positions in altcoins. Traders should watch for volume changes in BTCUSDT (currently 16.88 BTC over 24 hours) and ETHUSDT (495.97 ETH) as indicators of institutional re-entry or exit. Overall, the interplay between stock market sentiment and crypto price action underscores the importance of cross-market analysis for identifying trading setups in this volatile environment.

FAQ Section:
What caused the late-day crypto selloff on Thursday? The selloff was driven by geopolitical tensions, including fears of Israeli strikes on Iranian nuclear sites, and President Trump's tariff threats, impacting risk sentiment across markets between 18:00 and 22:00 UTC.
Are there trading opportunities in Bitcoin after the drop? Yes, Bitcoin's resilience above $100,000 on BTCUSD at $102,742.09 as of 23:59 UTC suggests potential dip-buying near the 24-hour low of $98,600.00 recorded at 14:00 UTC, provided support holds.
How are altcoins like Ethereum and Solana performing? Ethereum on ETHUSDT traded at $2,304.97 (up 4.297%) and Solana on SOLUSDT at $136.58 (up 6.032%) over 24 hours as of 23:59 UTC, though both saw sharp intraday drops indicating higher volatility.