June 15, 2025 Hot Events 1. Israel's military action against Iran triggered a sharp drop in the crypto market Israel's official acknowledgement of a strike against Iran has led to an escalation of geopolitical tensions in the Middle East and a rise in global risk aversion. The cryptocurrency market was not spared, and the price of Bitcoin (BTC) fell to near $104,000 at one point, down about 5% in 24 hours; Ethereum (ETH) fell more than 9%, with the price falling back to around $2,500; Other mainstream currencies such as Solana (SOL) fell by more than 10%. The amount of liquidation on the whole network exceeded 1 billion US dollars, and the long investors suffered heavy losses. 2. Binance Futures Competition continues to attract investors Binance's futures trading contest has attracted a large number of investors, and the performance of the best players may drive the price of the underlying currency up. Despite the overall decline in the market, the speculative atmosphere in contract trading remains active, with some investors trying to gain short-term gains through high leverage. 3. Aftermath of the Hyperliquid liquidation event Previously, the Hyperliquid platform caused controversy due to the "unplugging" type of liquidation of GILLY short orders, which led to an unexpected profit of $703,000 for the platform. In the past 24 hours, community discussions about the transparency and fairness of similar platform operations have heated up, affecting the market's trust in decentralised derivatives platforms.