Israeli airstrikes on Iranian nuclear facilities triggered a global risk asset selloff on June 14, with cryptocurrencies experiencing significant declines despite bitcoin's perceived haven status. According to CoinDesk market data, the CoinDesk 20 Index plunged 6.1% within 24 hours while bitcoin dropped 2.9% to $104,889.07 by 4 p.m. ET Thursday. Simultaneously, traditional safe havens surged: gold futures rose 1.3% to $3,445 per ounce, nearing all-time highs, and Brent crude oil spiked 14% intraday. The attack occurred hours after the International Atomic Energy Agency reported Iranian uranium enrichment violations, escalating Middle East tensions. Global equity markets reacted negatively, with Japan's Nikkei falling 0.89%, Euro Stoxx 50 down 1.37%, and E-mini Nasdaq-100 futures dropping 1.42%. This geopolitical turmoil reversed earlier crypto gains fueled by ETF speculation, particularly impacting Solana's SOL which surrendered its 24-hour rally sparked by SEC filing updates. Polymarket probability metrics indicate traders now assign a 91% chance of Iranian retaliation this month, compounding market uncertainty as investors shift focus from fundamental catalysts to geopolitical risks.

The crypto-stock correlation strengthened during the risk aversion event, with institutional money flows revealing nuanced behavior. Spot bitcoin ETFs recorded $86.3 million in daily net inflows despite the selloff, bringing cumulative inflows to $45.29 billion according to Farside Investors data. Similarly, ether ETFs attracted $112.3 million. This suggests institutions viewed the dip as a buying opportunity, contrasting with retail liquidations exceeding $1.16 billion according to CoinGlass, of which 90% were long positions. Crypto-related equities mirrored digital asset declines: Coinbase fell 3.84% to $241.05, while MicroStrategy dropped 1.9% to $379.76 during Thursday's session. Derivative markets showed heightened defensive positioning, with Deribit put/call ratios climbing to 1.28 for BTC and 1.25 for ETH, indicating increased demand for downside protection. Trading opportunities emerge in volatility arbitrage between correlated assets: the gold/BTC ratio surged to 30.6 ounces per bitcoin as traditional havens outperformed, while oil's 6% spike created headwinds for energy-intensive mining stocks like Riot Platforms which fell 3.22%.

Technical indicators reveal critical support levels tested during the selloff. Bitcoin briefly touched its 50-day simple moving average at $103,150 according to CoinDesk analysis, with liquidation heatmaps showing $84 million in long positions concentrated between $102K-$104K. Ether faced resistance at daily order blocks before plunging to test its 200-day exponential moving average near $2,480, a key support level holding since May. Derivatives data from Velo shows open interest plummeting from $55 billion on June 12 to $49.31 billion, the lowest monthly level, with Binance alone shedding $2.5 billion in OI overnight. Funding rates turned deeply negative across altcoins: Polkadot registered -15.2%, Chainlink -15.1%, and SHIB -44.5% on major exchanges. Volume correlations intensified, with the DXY dollar index rising 0.44% to 98.35 as crypto fell, reinforcing inverse USD relationships. Upcoming token unlocks pose additional pressure, including ZKsync's $37.26 million unlock on June 17 representing 20.91% of circulating supply. Monitoring the ETH/BTC ratio, which declined 3.52% to 0.02412, provides cross-market sentiment cues as traders assess relative asset strength during geopolitical crises.