{"id":24836,"date":"2025-06-22T19:00:42","date_gmt":"2025-06-22T16:00:42","guid":{"rendered":"https:\/\/forklog.com\/en\/week-in-review-bitcoin-slips-below-100000-fed-holds-rates-and-a-90m-hack-at-an-iranian-exchange\/"},"modified":"2025-06-22T19:00:42","modified_gmt":"2025-06-22T16:00:42","slug":"week-in-review-bitcoin-slips-below-100000-fed-holds-rates-and-a-90m-hack-at-an-iranian-exchange","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/week-in-review-bitcoin-slips-below-100000-fed-holds-rates-and-a-90m-hack-at-an-iranian-exchange\/","title":{"rendered":"Week in review: bitcoin slips below $100,000, Fed holds rates, and a $90m hack at an Iranian exchange"},"content":{"rendered":"

Bitcoin fell from $109,000 to $100,000, IPO rumours buoyed TRX, the Fed<\/span> kept its key rate unchanged, hackers hit Iran\u2019s Nobitex platform, and other highlights of the week.<\/p>\n

Fed holds rates as crypto endures a bruising week<\/strong><\/h2>\n

Bitcoin opened the week on a firm footing, climbing to $109,000 by June 17. It failed to sustain the momentum, however, and after a local peak began a swift descent.<\/p>\n

\"BTCUSDT_2025-06-22_18-38-54\"
Hourly BTC\/USDT chart on Binance. Source: TradingView<\/a>.<\/figcaption><\/figure>\n

By June 18 bitcoin traded between $103,000 and $104,000. That evening the Federal Reserve System of the United States decided to keep<\/a> the key rate in a 4.25%\u20134.5% range.<\/p>\n

The move matched market expectations, yet bitcoin still drifted sideways until Friday. On June 20 the digital gold attempted a breakout<\/a> above $107,000, but heavy selling sent it back to $103,000.<\/p>\n

Overnight June 21\u201322 bitcoin was highly volatile amid a US strike on nuclear facilities in Iran. By Sunday evening the asset slumped<\/a> below $100,000.<\/p>\n

The drop triggered more than $1bn in 24-hour liquidations, according to Coinglass<\/a>.<\/p>\n

\"Snimok-ekrana-2025-06-22-v-18.39.40\"
Data: Coinglass.<\/figcaption><\/figure>\n

At press time the leading cryptocurrency trades at $99,400, down 6% on the week. Its market capitalisation stands at $1.97 trillion.<\/p>\n

Altcoins fared worse. Ether fell 14% to $2200.<\/p>\n

\"Snimok-ekrana-2025-06-22-v-18.41.11\"
Data: CoinGecko<\/a>.<\/figcaption><\/figure>\n

SOL (-14.7%), DOGE (-16.5%) and XRP (-10.3%) were also hit.<\/p>\n

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\u201cRight now, altcoin capitulation is literally under way,\u201d noted analyst and MN Trading founder Micha\u00ebl van de Poppe.<\/p>\n<\/blockquote>\n

Total market capitalisation slid to $3.19 trillion. The Crypto Fear and Greed Index fell towards 42.<\/p>\n

\"Fear-Greed-Index-2\"
Data: Alternative<\/a>.<\/figcaption><\/figure>\n

TRON lifted by upbeat listing chatter<\/strong><\/h2>\n

Despite the turbulence, TRX held its ground\u2014down just 2% on the week\u2014likely helped by rumours of a US listing for Tron<\/a>.<\/p>\n

On June 16, FT journalists reported that Justin Sun\u2019s firm would go public via a reverse merger with SRM Entertainment, a Nasdaq-listed company.<\/p>\n

After publication, TRX jumped from $0.27 to $0.30, up about 9%. It then corrected, but despite the broader pullback still trades around $0.27.<\/p>\n

\"TRXUSDT_2025-06-22_18-43-34\"
Hourly TRX\/USDT chart on Binance. Source: TradingView<\/a>.<\/figcaption><\/figure>\n

The merger is being arranged by boutique investment bank Dominari Securities, linked to the US president\u2019s sons: Donald Trump Jr and Eric Trump.<\/p>\n

The new venture will buy and hold TRON tokens, mirroring Michael Saylor\u2019s strategy. Sources say Tron has committed $210 million in digital assets to the company.<\/p>\n

Eric Trump had been expected to take a role at the firm, but he denied the claims.<\/p>\n

\n

\u201cI am the biggest fan of Tron and I love Justin Sun \u2014 he is a great friend and an icon in the crypto space. That said, the statements below are inaccurate \u2014 I am not taking public involvement,\u201d said the president\u2019s son.<\/p>\n<\/blockquote>\n

In a press release SRM Entertainment did not confirm the possible merger, but said it had reached an agreement with a \u201cprivate investor\u201d to purchase 100,000 shares for $100 million. The financing will go towards building a TRX corporate treasury.<\/p>\n

Sun also became a strategic adviser to SRM, and the company announced a change of name to Tron.<\/p>\n

The news also buoyed the company\u2019s shares, which rose 835%<\/a> over the trading week.<\/p>\n

What to talk about with friends?<\/strong><\/h2>\n