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Ether, Solana, and Other Majors Could Slide Further as Trump Threatens Iran Strikes
Tensions in the Middle East are fueling a flight to safety, with traders rotating out of altcoins into stablecoins and bitcoin amid uncertainty around U.S. military escalation and sticky inflation.
Updated Jun 19, 2025, 1:57 p.m. Published Jun 19, 2025, 5:25 a.m.
What to know:
- Major cryptocurrencies, including XRP, ADA, and SOL, declined over 1% amid escalating Middle East tensions, while DOGE remained flat but down over 10% for the week.
- Spot bitcoin ETFs in the U.S. attracted significant inflows, with $389 million in new purchases, as investors seek refuge from market volatility.
- The Federal Reserve maintained interest rates but highlighted persistent inflation risks, contributing to market uncertainty and affecting both equities and cryptocurrencies.
Crypto majors slid further on Thursday and the dollar gained ground as fears of a broader conflict in the Middle East intensified.
XRP , Cardano’s ADA , and Solana’s SOL lost over 1% in the past 24 hours, while dogecoin is flat on the day but down over 10% for the week, wiping out its early June rally. Ether lost 0.7%, reversing all gains from earlier in the week.
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As such, spot bitcoin exchange-traded funds (ETFs) in the U.S. continued to attract inflows, with over $389 million in fresh buys on Wednesday, data shows. Spot ETH ETFs racked up $19 million in positive flows.
U.S. officials are reportedly weighing a direct strike on Iran, while the Federal Reserve flagged a more persistent inflation outlook, spooking investors and pushing equities, crypto majors, and commodities into choppy waters.
Fed Chair Jerome Powell warned on Wednesday that tariffs and global conflict could make it harder to tame inflation. While the central bank held rates steady, Powell said the cost of tariffs “will fall on the end consumer,” and that the Fed needs to “see more” before cutting.
Altcoins, considered higher-risk bets, are typically the first to get dumped in times of macro stress.
Bitcoin continues to remains rangebound. While the largest cryptocurrency has climbed 13% year-to-date, buoyed by ETF inflows and dollar weakness, it hasn’t acted decisively as either a safe haven or a risk asset this week.
“Bitcoin seems stuck between two worlds,” said FxPro analyst Alex Kuptsikevich. “It’s not reacting to rising risk appetite, nor surging like gold during heightened conflict.”
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Proposed ‘AfterDark’ Bitcoin ETF Would Skip U.S. Trading Hours
The fund would hold bitcoin only overnight, betting on data showing bitcon gains mostly occur outside regular market hours.
What to know:
- Nicholas Financial has filed with the SEC to launch a bitcoin ETF that holds BTC only during overnight hours.
- The “AfterDark” ETF buys bitcoin after U.S. stocks close for the day and then sells bitcoin and shifts into Treasuries during the American session.
- Data shows bitcoin tending to perform better when traditional U.S. markets are closed.
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