According to Francisco Rodrigues, Bitcoin (BTC) fell 2.9% to $104,889.07 and the CoinDesk 20 Index declined 6.1% over 24 hours as Israeli airstrikes on Iran heightened global risk aversion, with gold futures rising 1.3% as a traditional haven, per market data. Solana's SOL plummeted 9.5%, erasing gains from earlier SEC requests for ETF S-1 updates, as noted by Jake Ostrovskis of Wintermute, who highlighted the market's underexposure to SOL assets. Polymarket traders estimate a 91% probability of Iranian retaliation this month, potentially escalating tensions, while derivatives data from Deribit shows increased BTC and ETH put/call ratios at 1.28 and 1.25, indicating higher demand for downside protection.

According to Francisco Rodrigues, cryptocurrencies declined sharply due to Israeli airstrikes on Iran, with the CD20 index falling 6.1% over 24 hours and bitcoin BTC dropping 2.9%, as Velo data showed open interest plummeting to $49.31 billion. Gold futures rose 1.3%, highlighting a flight to traditional havens, while Farside Investors reported $939 million in net inflows for BTC ETFs and $811 million for ETH ETFs, though market focus shifted to geopolitical risks. Polymarket traders indicated a 91% chance of Iranian retaliation this month, escalating uncertainty, and Deribit data revealed increased put/call ratios, signaling growing demand for downside protection amid $1.16 billion in liquidations.

According to CoinDesk, Bitcoin (BTC) dropped 2.9% and the CoinDesk 20 Index fell 6.1% as Israeli airstrikes on Iran's nuclear sites heightened geopolitical risks, causing a broad sell-off in risk assets like cryptocurrencies (CoinDesk). Solana (SOL) declined nearly 9.5% despite earlier ETF-driven gains, with Bloomberg analysts Eric Balchunas and James Seyffart citing a 90% probability of SOL ETF approval by year-end (CoinDesk). Derivatives data showed increased demand for downside protection, with BTC and ETH put/call ratios rising to 1.28 and 1.25 respectively, and total open interest dropping to $49.31 billion (Velo data via CoinDesk).

According to Crypto Rover, the cryptocurrency market experienced $875,000,000 in liquidations over the past 24 hours, signaling heightened volatility and increased risk for traders. The rapid price movements affected major assets like BTC and ETH, with leveraged positions being wiped out across top exchanges. This large-scale liquidation event highlights the importance of risk management and may lead to short-term price corrections, impacting both spot and derivatives markets. Source: Crypto Rover via Twitter.

According to Cas Abbé, today's cryptocurrency market saw significant sell-offs in altcoins, with most dropping between 10% and 15%. BTC dominance surged to its highest level since May 8, indicating a strong shift of capital into Bitcoin (BTC) while altcoins underperformed. The others/BTC ratio hit another cycle low, underscoring continued weakness in the altcoin sector. Traders should note that, with BTC still trading above $104,000, market momentum remains heavily concentrated in Bitcoin, suggesting caution for altcoin positions and increased focus on BTC trading pairs. (Source: Cas Abbé on Twitter)

According to Crypto Rover, the cryptocurrency market experienced liquidations exceeding $983 million in the last 24 hours, with $891.9 million coming from long positions (Source: Crypto Rover on Twitter, June 6, 2025). This large-scale liquidation highlights heightened volatility and increased risk for leveraged traders, as rapid price movements triggered mass stop-outs. Traders should closely monitor funding rates and order book depth to gauge potential reversals or continued selling pressure. The significant dominance of long liquidations suggests a shift in market sentiment toward bearishness, which could influence BTC, ETH, and altcoin strategies in the near term.

According to Miles Deutscher, effective profit-taking during a cryptocurrency pump involves setting clear exit targets, using trailing stop orders, and allocating a percentage of holdings to stablecoins to protect gains. Deutscher highlights that traders who systematically secure profits during rapid price increases are less likely to suffer significant losses when the market inevitably corrects. He emphasizes the importance of having a predefined profit-taking plan rather than relying on emotions or waiting for maximum gains, referencing historical data from previous Bitcoin and altcoin cycles. These strategies are especially relevant for altcoins, where volatility is higher and pumps are often followed by sharp corrections. Implementing disciplined selling and risk management practices can enhance long-term portfolio returns and minimize downside risk in volatile crypto markets. Source: Miles Deutscher on Twitter, May 9, 2025.

According to Lookonchain, a trader who initially bought 19.14 million $LUCE at $0.0275 experienced an unrealized profit of over $5.2 million at the peak. However, due to a dramatic 70% crash in $LUCE's value, the trader now faces a significant loss of $335,000. This highlights the risks associated with holding onto volatile crypto assets without active portfolio management.