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$1 Billion Liquidated: Bitcoin Price Crashes Below $100K Amid US-Iran War Fears
The cryptocurrency market faced a devastating blow in the past 24 hours as Bitcoin’s price plummeted over 4%, falling below $100,000 for the first time in weeks. This sudden and drastic decline came after shocking news from the global stage: US 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 sent shockwaves through global markets, including crypto, triggering a wave of panic selling and liquidations.
In just one day, an astonishing $1.02 billion worth of positions were liquidated across the crypto market, with Bitcoin leading the slide. Unsurprisingly, popular altcoins like Ethereum and Solana also breached key support levels, signaling possible further drops ahead.
Insight into 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 range, there could be a temporary bounce or sideways movement. However, if Bitcoin falls below this level, the next potential support lies around $96,000 to $97,000. At the time of writing, BTC has dropped below that support.
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.
Source: coinpedia.org
