Casualties are mounting as the Israel-Iran conflict enters its fifth day, with Iran reporting 224 people killed, while in Israel 24 deaths have been confirmed. All major stock indices are in the red, and bitcoin had dipped to roughly $104K at the time of reporting.
To add insult to injury, retail sales in the U.S. fell by 0.9%, worse than the 0.7% economists polled by research firm Factset had predicted. The U.S. Census Bureau published its monthly advance estimates of retail and food services sales for May 2025 on Tuesday, which totaled $715.4 billion, down from $722 billion in April.
(Advance estimates of retail and food services sales for May 2025 / U.S. Census Bureau)
Israel claims to have struck three key Iranian nuclear sites and Israeli Prime Minister Benjamin Netanyahu is not ruling out a potential assassination of Iran’s Supreme Leader Ali Khamenei. “It’s not going to escalate the conflict. It’s going to end the conflict,” Netanyahu told ABC News in an interview.
Meanwhile, U.S. President Donald Trump appears content playing on the sidelines. “I have not reached out to Iran for ‘peace talks’ in any way, shape, or form,” Trump wrote on Truth Social. “If they want to talk, they know how to reach me.”
The president met with G7 leaders in Canada on Monday but left early to work on issues “much bigger” than a potential Israel-Iran ceasefire. It had been previously reported that Trump’s departure was because he wanted to focus on ending the ongoing conflict, but the president vehemently denied the reports.
Bitcoin shed 2.96% in the past 24 hours, easing to $104,318.16 at the time of reporting, and is now down 4.42% for the week. The cryptocurrency traded within a daily range of $104,218.46 and $108,915.38.
( BTC price / Trading View)
Despite the price drop, trading volume surged by 19.56% to $52.89 billion as traders repositioned in response to ongoing volatility triggered by current Middle East tensions. Bitcoin’s total market capitalization rose slightly to $2.09 trillion, up 2.22% from the previous day but BTC dominance slipped marginally to 64.78%, down 0.12% from yesterday.
( BTC dominance / Trading View)
Futures market data from Coinglass shows a 2.81% decline in BTC open interest, which now sits at $70.84 billion. The downturn also triggered $7.67 million in total liquidations, with $7.3 million wiped from long positions. Short traders saw only $371,610 in losses. The cryptocurrency will likely continue to seesaw in tandem with developments around the ongoing Israel-Iran war.
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