According to CoinDesk, the Asia crypto market opened with major digital assets like BTC and ETH posting steep declines following Israeli airstrikes on Iranian nuclear facilities, sparking a broad risk-off sentiment. BTC dropped 4.7% to around $101,577 and ETH fell sharply to $2,280, despite ETH's 40% three-month outperformance and continued institutional inflows, including $240M into spot ETFs on June 11 (source: CoinMarketCap, CoinDesk). Market observers highlight ETH’s growing role as a liquidity anchor and altcoin rally indicator, as capital shifts from BTC to DeFi, modular infrastructure, and decentralized AI (source: Hex Trust via CoinDesk). Separately, Singapore’s MAS confirmed a regulatory clampdown on offshore digital token service providers, requiring licensing for foreign-focused exchanges from June 30, following reputational damage from the 3AC and Terraform Labs failures (source: MAS, CoinDesk). This move reduces regulatory arbitrage and is expected to increase compliance costs and exit of non-compliant platforms like Bitget and Bybit, with potential spillover effects on regional crypto liquidity and trading volumes.