The cryptocurrency market was confronted with a heavy blow in the last 24 hours, because the price of Bitcoin fell more than 4%and dropped below $ 100,000 for the first time in weeks. This sharp decline came after shocking news from the world stage: Fus President Donald Trump announced a bombing on three nuclear sites in Iran and called it a “successful” mission that “erased” the facilities.
After this attack, Iran gave a new threat to close the street of Hormuz – a critical route for global oil shipments. This increased geopolitical tension created world markets, including Crypto, which cause a wave of panic sales and liquidations.
In just one day, more than $ 1.02 billion in positions were liquidated over the cryptomarket, with Bitcoin liding the slide. Popular altcoins such as Ethereum and Solana have also broken the most important support levels, which may be further indicated.
What is the next step for Bitcoin?
According to market analysts, Bitcoin is currently testing a support zone between $ 100,000 and $ 102,000. If it succeeds in retaining above, there may be a temporary bounce or lateral movement. However, if Bitcoin falls under this range, the next potential support is around $ 96,000 to $ 97,000. At the time of writing, BTC fell under that support.
There is also weakening momentum in the larger timetables. Different technical indicators indicate a possible longer correction phase or long -term lateral consolidation for Bitcoin in the coming weeks or months.
Although small recovery can occur in the short term, analysts predict that strong bullish movements are unlikely in the immediate future due to both technical weakness and continuous geopolitical risks.
Credit : coinpedia.org
