Crypto vs Gold vs Oil: Who's Winning?

🧠 Bitcoin dips below $100K as Middle East tensions flare 

Oil and Gold take the spotlight

Bitcoin briefly slipped below $100,000 over the weekend as U.S. airstrikes hit Iranian nuclear sites, sending shockwaves through global markets. The move sparked panic across crypto, triggering nearly $500 million in long liquidations and dropping BTC to a low of around $97,000.

But this wasn’t just a technical drop, it was emotional. As missiles flew over Iran, fear took over the charts.

By Monday morning, BTC was back above $101K, but the market is now stuck in a narrow range. The price is hovering between $97K and $102K, a zone that could decide what comes next. If Bitcoin climbs past $102.5K, more than $1 billion in short positions could be wiped out. But if it slips again, another $345 million in longs may be at risk.

The new battle zone: $97K to $102K

Data shows nearly 1.6 million wallets bought over 1.1 million BTC around the $97K mark, making it a strong support level. At the same time, Bitcoin has failed three times in the past five weeks to break above $110K. Traders are unsure which direction it’ll go next and that uncertainty is keeping the market tense.

 Arthur Hayes: "This will pass"

Former BitMEX CEO Arthur Hayes believes the bigger picture hasn’t changed. In his words, governments keep spending, central banks keep printing money, and that’s the kind of environment where Bitcoin usually shines. He sees geopolitical tension and inflation as fuel for the next leg up.

 While Bitcoin struggles, oil and gold are rallying

As crypto stumbles, two assets are making a comeback: oil and gold.

• Oil prices jumped after the U.S. airstrikes. The concern? If conflict spreads, it could threaten the Strait of Hormuz, a narrow waterway that handles about 30% of the world’s oil shipments. That’s why Brent crude touched $77.79, and WTI hit $78.58 before settling slightly lower.
  

• Gold is on fire, and not just because of fear. Central banks are buying more, global trust in the U.S. dollar is slipping, and investors are looking for safer places to store value. Gold is now trading above $3,360, and Bank of America says it could hit $4,000 per ounce within a year.
  

 Why this matters

Crypto is no longer reacting just to crypto news. It’s tied to what’s happening in the world. Wars, inflation, interest rates, it all matters now. And while Bitcoin is still seen as a hedge, it's acting more like a risk asset when fear takes over, but everytime the resilience is getting stronger, which is a very positive sign.

📚Read Also: Iran shuts Strait of Hormuz, halting 20% of global oil flow in retaliation to U.S. airstrikes

Iran closed the Strait of Hormuz on Sunday, cutting off nearly one-fifth of global oil traffic, after the United States bombed its nuclear and missile facilities in a pre-dawn air campaign.

📊 Market Watch:

Smart money keeps buying as crypto fund Inflows hit $15B

Even as Bitcoin slipped below $100K over the weekend, crypto investment funds posted their 10th straight week of inflows, adding another $1.24 billion. That brings total inflows for the year to $15.1 billion, the highest on record.

At this point, it’s clear: the market might be choppy, but institutions are still showing up.

Bitcoin is still doing the heavy lifting, pulling in over $1.1 billion just last week. That brings its year-to-date total to $12.7 billion, even as prices struggled to hold key levels.

Ethereum is quietly holding its own too. It just posted nine weeks in a row of inflows, its longest streak since 2021.

• Ethereum inflows: $124M last week | $2.43B YTD

• Bitcoin inflows: $1.11B last week | $12.7B YTD

Other assets are seeing more selective action. Solana and XRP each pulled in close to $3M last week, while Chainlink, Cardano, and Litecoin had smaller but steady gains.

On the regional side, the U.S. continues to dominate:

• $1.25B came from U.S.-based funds last week

• That’s nearly 95% of global inflows

Canada, Germany, and Australia all saw mild growth. Meanwhile, Hong Kong and Sweden posted outflows, likely reflecting local uncertainty more than broader sentiment.

📚Read Also: Ripple lawyer denies U.S. government plans to seize XRP escrow

Ripple’s legal counsel has denied growing speculation that the U.S. government is planning to seize XRP tokens currently held in escrow by the blockchain firm. The denial comes amid a flurry of social media posts suggesting Ripple’s XRP holdings could be used to back a future government-backed digital reserve.

💰 Liquidity Watch: 

Tether mints $2B in USDT — On Tron

Tether has minted $2 billion worth of USDT on the Tron blockchain in just a few days, a move that’s once again raised eyebrows across the crypto market.

The minting was done in two rounds: $1 billion early last week, followed by another $1 billion, both confirmed by CEO Paolo Ardoino. As usual, Tether clarified that the tokens are “authorized but not issued” meaning they’re not in circulation yet, but ready to be deployed when needed.

This comes shortly after a separate $1 billion USDT mint on Ethereum on June 18, just ahead of the Fed’s latest rate meeting. The timing wasn’t missed by analysts. Tether has a history of increasing reserves before big liquidity shifts, either to prepare for higher exchange demand or to give institutional clients a ready pool of stablecoins to move fast.

Crypto investor Lark Davis called the move a clear signal that "dry powder" is entering the system liquidity that’s not in play yet, but could quickly be used once market conditions turn favorable.

Tether's strategy here is part liquidity management, part market signaling. By minting large amounts and holding them in reserve, it ensures:

• Customer redemptions can be handled smoothly

• Liquidity is available across chains like Tron and Ethereum

• Exchanges can rebalance or transfer quickly with minimal friction

According to analytics firm Lookonchain, the minting reflects a readiness stance, not just for redemptions but also for bridging USDT between blockchains or fueling a wave of trading activity.

The choice of Tron is also deliberate, it remains the go-to chain for high-volume stablecoin movement, thanks to its low fees and faster settlement speeds. Today, over half of all USDT supply lives on Tron.

📚Read Also: Blast and Across Protocol (ACX) lead $250 million token unlocks this week

Token unlock events totaling over $250 million are scheduled for June 23 to June 30 as per Tokenomist data. Blast and Across Protocol lead large cliff unlock categories, while Solana heads linear unlock schedules across multiple cryptocurrency projects during the upcoming week.

🐥 Thread of the day by @CPOfficialtx

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