Bitcoin briefly dropped below the $100,000 mark for the first time in over six weeks following geopolitical tensions between the U.S. and Iran, but market experts say the decline is temporary. The flagship cryptocurrency fell to $98,500 late Sunday after reports emerged of a U.S. airstrike targeting Iranian nuclear facilities. The dip was short-lived, however, as Bitcoin quickly rebounded to $101,500 at the time of writing. BitMEX co-founder Arthur Hayes weighed in on the development via X, stating that the market weakness would not last. “This weakness shall pass,” Hayes said, adding that Bitcoin’s role as a “safe haven” asset will become increasingly evident as central banks resume aggressive money printing . Support Levels Hold Firm Amid Summer Consolidation Despite the volatility, Bitcoin remains within a key technical range. Markus Thielen, head of research at 10x Research, said the digital asset continues to trade above its short-term realized price of $98,000 and its broader trend support level of $102,000. “As long as Bitcoin holds above these levels, traders can continue to look for tactical rally opportunities,” he noted. However, Thielen warned that if BTC slips below this critical support range, investor sentiment may shift toward risk management, particularly with no strong bullish catalysts currently on the horizon. He added that Bitcoin’s sideways movement over the past five weeks reflects broader macroeconomic instability, citing three failed attempts to surpass the $110,000 level. Each attempt was hampered by market turbulence, from May’s tariff concerns to the recent Israel–Iran escalation . “These events have shown that Bitcoin, for now, is not functioning as a traditional risk-off hedge,” Thielen explained. He expects the asset’s sideways trading pattern to persist over the coming months. “Our view is that we consolidate over the summer,” he concluded. Broader Crypto Market Faces Pressure Bitcoin’s brief drop also pulled down the broader crypto market. According to CoinGecko data, the total market capitalization fell by 1.5% in the last 12 hours, shedding nearly $50 billion and settling at $3.21 trillion. Most altcoins were trading in the red during this period, reflecting the market-wide uncertainty. Still, market watchers believe BTC’s long-term trajectory remains intact, especially if inflation pressures force central banks to ease monetary policy, reinforcing Bitcoin’s narrative as a digital store of value. The post Bitcoin Dips Below $100K After US-Iran Tensions, Analysts Predict Rebound appeared first on TheCoinrise.com .
