As missiles flew over Iranian airspace and Bitcoin (BTC) tumbled below $100K for the first time since May. This psychological level is increasingly becoming more symbolic than technical. However, BTC was already back above $101,000 on Monday morning but got stuck between levels, which can make or break the momentum. The sub-six-figure drop, fueled by panic over US airstrikes on Iranian nuclear facilities, rattled crypto traders and wiped out nearly half a billion dollars in long positions. Fresh data suggests that if Bitcoin manages to climb above $102.5K, then the market could see $1.04 billion worth of short bets being liquidated. Bitcoin’s $97K–$102K zone becomes critical Bitcoin price is hovering around the $101k-$102k zone as investors continue to speculate about its next move. Its 24-hour trading volume is up by 36% to stand at $62.96 billion, hinting that traders are moving money amid high turbulence. Data points out that if BTC falls below the $100k then it could trigger $345 million worth of long bets to liquidate. The biggest crypto is trading at an average price of $101,715 at press time. This is a situation where the bulls are being trapped and even bears are sweating. 🚨$1 BILLION WIPEOUT LOOMS IN BITCOIN! 📈If BTC climbs above $102.5K → $1.04 BILLION in short liquidations. 📉If BTC falls under $100K → $345M in long liquidations. 🐂The bulls are trapped. 🐻The bears are sweating. Who will win?🥊 pic.twitter.com/CzXFPX6lhj — Coin Bureau (@coinbureau) June 23, 2025 Arthur Hayes, never one to shy away from macro narratives, declared the weakness “shall pass.” He pinned Bitcoin’s recovery on the only constant in the financial universe, where central banks’ addiction to the money printer. His thesis is simple that Geopolitical volatility plus fiscal indiscipline equals Bitcoin’s next leg up. But the charts tell a story of exhaustion as Bitcoin has failed three times in five weeks to breach $110K. The market has digested US tariff drama, Israeli-Iranian tensions, and now direct US military action and each time, BTC has snapped back, but not surged forward. Sentora data marks that around 1.6 million addresses have acquired 1.14 million BTC at an average of $97k, which makes it a key support to retest. The $97,000–$102,000 zone now becomes the battleground. Any fall below, and the market could spiral into the mid-$90Ks if it holds steady, and BTC may finally have the fuel to attempt another breakout. Crypto fears while gold and oil shine At the heart of this stagnation lies a concerning divergence as Retail is fading. Liquidations are hitting over-leveraged bulls the hardest. As per 10x Research, Bitcoin dominance is on a surge, but still, there are two indicators that are flashing a bear market. It mentioned that Ethereum, which was once riding a wave of ETFs optimism, is now unraveling under the weight of over-leveraged futures positions. The report added that even stablecoin flows, which are often overlooked, are painting a telling picture as we head into summer. The global crypto market had printed red indexes all the way around while holding the $3 trillion cap. Fear and Greed is flashing “Fear” among the traders. As Bitcoin swings, oil prices have spiked while the gold price is shining. Brent crude oil futures surged as much as 2.7% on Monday and traded below $77 per barrel after trying to get over its five-month high of $77.79. WTI crude hit $78.58 before cooling off to $76.75. Meanwhile, gold is quietly getting hyped as BofA thinks it could hit $4,000 an ounce within a year. XAU/USD is trading at an average price of $3,364.66 at press time. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
