Bitcoin Dips Below $100K Amid Geopolitical Tensions
Bitcoin briefly slipped below $100,000 over the weekend, falling to $98,500 following U.S. airstrikes on Iranian nuclear facilities. It marked the lowest BTC price in over six weeks, igniting fresh concerns over crypto’s resilience during geopolitical crises.
However, the drop was short-lived, with Bitcoin rebounding to $101,197 during early Asian trading on Monday. This move restored confidence in BTC’s underlying demand, despite the temporary panic selling.
Arthur Hayes: “This Weakness Shall Pass”
BitMEX co-founder Arthur Hayes reassured the market via X, stating:
“This weakness shall pass. Bitcoin will leave no doubt as to its safe haven status.”
Hayes attributed the long-term bullish outlook to continued central bank money printing, suggesting that macroeconomic inflationary trends will eventually reinforce Bitcoin’s role as a store of value.
Short-Term Outlook: Trading Within Range
According to 10x Research’s Markus Thielen, the key BTC support levels to watch are:
- $98,000 – short-term realized price
- $102,000 – trendline support
So long as Bitcoin stays within this range, traders can look for tactical rallies. However, a break below could shift focus to risk management, especially without strong bullish catalysts.
Bitcoin has now spent five weeks in consolidation, with three failed attempts to break above $110,000—largely due to macro shocks like tariff tensions and the Israel–Iran conflict.
“Bitcoin is not behaving as a risk-off hedge in the current environment,” Thielen noted, predicting sideways trading through the summer.
Institutional Confidence Remains Strong
Despite price swings, institutional sentiment stays decidedly bullish.
Eugene Cheung, Chief Commercial Officer at OSL, stated:
“Bitcoin’s resilience suggests strong institutional support and long-term bullish sentiment.”
He emphasized that ongoing volatility highlights crypto’s macro sensitivity, but the market continues to absorb shocks and trend upward overall.
Altcoins May Gain Momentum
Nick Ruck from LVRG Research pointed out growing strength in the altcoin market, saying:
“Altcoins could outperform in the coming months if macro conditions stabilize and crypto-specific catalysts take hold.”
Still, the broader market remains cautious—crypto market cap dropped 1.5% in 12 hours, shedding $50 billion to $3.21 trillion, according to CoinGecko.
Conclusion: BTC Recovery Signals Market Stability
Bitcoin’s swift recovery above $100K underscores its structural strength, even amid rising global tensions. With institutional demand intact and altcoins showing early signs of divergence, the crypto market may enter a calm, sideways summer phase before the next breakout attempt.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.