According to Francisco Rodrigues, Bitcoin (BTC) is trading near $106,000, buoyed by reduced geopolitical risks after President Trump delayed a U.S. intervention in Iran, with Polymarket odds dropping from 70% to 40%. However, CryptoQuant analysts warn BTC could fall to $92,000 if demand doesn't rebound, citing a 60% decline in ETF flows since April and reduced whale buying. Glassnode reports subdued on-chain activity, indicating institutional dominance in a maturing market. Key events include CME Group's launch of spot-quoted futures for BTC and ETH on June 30, pending approval.

According to Francisco Rodrigues, cryptocurrencies experienced sharp declines amid heightened geopolitical risks from Israeli airstrikes on Iran, with the broad crypto market index losing 6.1% and bitcoin (BTC) falling 2.9% over 24 hours, while gold futures rose 1.3% as a traditional haven. Solana (SOL) plummeted nearly 9.5% despite earlier gains from SEC requests for ETF issuers to update S-1 filings, as noted by Jake Ostrovskis, an OTC trader at Wintermute. Spot BTC and ETH ETFs recorded significant inflows of $939 million and $811 million month-to-date respectively, per Farside Investors data, but derivative markets showed defensive shifts with open interest dropping to $49.31 billion and BTC put/call ratio rising to 1.28, according to Deribit.

According to Glassnode, Bitcoin futures open interest surged from $36.2 billion on Monday to $38.6 billion today, marking a $2.4 billion increase in just 36 hours. This rise highlights a significant increase in derivative positioning, reaching its highest point since late March. Such a sharp increase in open interest can indicate heightened trading activity and market anticipation, potentially impacting BTC price movements in the short term. Traders should watch for increased volatility as the market digests this substantial influx in futures interest.