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The cryptocurrency market faced a heavy blow in the past 24 hours as Bitcoin’s price dropped over 4%, falling below $100,000 for the first time in weeks. This sharp decline came after shocking news from the global stage: fUS President Donald Trump announced a bombing operation on three nuclear sites in Iran, calling it a “successful” mission that left the facilities “obliterated.”
Following this attack, Iran issued a fresh threat to close the Strait of Hormuz — a critical route for global oil shipments. This heightened geopolitical tension spooked global markets, including crypto, triggering a wave of panic selling and liquidations.
In just one day, over $1.02 billion worth of positions were liquidated across the crypto market, with Bitcoin leading the slide. Popular altcoins like Ethereum and Solana also broke key support levels, signaling possible further drops ahead.
What’s Next for Bitcoin?
According to market analysts, Bitcoin is currently testing a support zone between $100,000 and $102,000. If it manages to hold above this, there could be a temporary bounce or sideways movement. However, if Bitcoin falls below this range, the next potential support lies around $96,000 to $97,000. At the time of writing, BTC has dropped below that support.
There is also weakening momentum in the larger timeframes. Several technical indicators are hinting at a possible longer correction phase or extended sideways consolidation for Bitcoin in the coming weeks or months.
While minor short-term recoveries could happen, analysts predict that strong bullish moves are unlikely in the immediate future due to both technical weakness and ongoing geopolitical risks.
