Bitcoin just hit a speed bump, and it wasn’t a small one. The digital heavyweight took a stumble as it dipped under the $99,000 line, rattled by fresh waves of geopolitical drama. The spark? A set of U.S. military strikes on Iranian nuclear sites, green-lit by President Donald Trump, which sent shockwaves across the financial landscape.
The news broke like a thunderclap during a live address by Trump, and it didn’t take long for markets to catch the jitters. Traders, sensing trouble brewing, wasted no time bolting for the exits. Bitcoin, often seen as the golden goose of crypto, got swept up in the storm and took a hit right between the eyes.
Though it’s often touted as a safe harbour when the world’s in chaos, Bitcoin didn’t dodge the fallout this time. Instead, it took a knock to the chin, with investors scrambling to safer ground. It was a classic case of nerves getting the better of boldness.
Image 1: Bitcoin price: (Source: TradingView)
Traders Tread Carefully, But Hope Lingers
Even with the price sliding, not everyone’s jumping ship. Some market watchers reckon this rough patch might be more of a pothole than a full-blown crash. Cas Abbe, a crypto analyst, suggested Bitcoin could slip to around $93,000—but reckoned there’s only about a 20% chance of that worst case playing out. From where he’s standing, it’s not time to hit the panic button just yet.
This is my worst case scenario for $BTC.
A dump towards $93K-$94K before bottom formation and reversal.
There’s a 20%-25% chance of this happening.
And what could trigger this?
In April 2025, Trump announced reciprocal tariffs and the market crashed.
Most people thought it… pic.twitter.com/GMPbtr5E8j
— Cas Abbé (@cas_abbe) June 22, 2025
Seasoned traders often lean on history when the road gets bumpy. Back in early 2025, as war flared in Ukraine, Bitcoin shocked everyone with a 42% climb over five weeks—even while global sentiment was as gloomy as a rainy Tuesday. That was during a bear market too. Fast-forward to today, and the landscape looks a lot sunnier, with Bitcoin still sitting in a bullish pattern.
Another veteran trader, Merlijn, thinks this latest flare-up could actually pour fuel on the fire. His thinking? When you layer geopolitical tension over an already-strong bull trend, it can end up giving prices a rocket boost. It’s a risky bet, but if history’s any guide, it’s not out of the question.
Support Zones and Sentiment on the Move
Right now, traders have their eyes glued to the charts, trying to work out where the floor might be. One potential soft landing sits near $97,000, where a healthy pile of buy orders is waiting. CoinGlass data shows that plenty of folks are hoping to snap up Bitcoin on the dip, turning that price zone into a possible safety net.
Support and resistance levels are the bread and butter of trading. Think of them as traffic lights—when prices hit them, things either slow down or switch direction. If Bitcoin can stay above the AU$144,000 support level, bulls might find the strength to make another charge. If not, it could be a long slide down the slope.
Crypto Tony, a familiar voice on X, is hanging onto his long position like a dog with a bone. For him, the magic number is $93,500—fall below that, and all bets are off. He also reckons Bitcoin needs to stay north of $104,500 for the bulls to keep the upper hand. But with prices already dipping below that mark, Monday’s open could be a nail-biter.
All Eyes on the Weekly Close
As the weekend draws to a close, Bitcoin looks like it’s about to chalk up its weakest finish since early May. It’s not quite time to sound the alarm bells, but it does break the digital asset’s recent stride. And if the week closes on a sour note, more sellers could start heading for the exit—adding extra weight to the decline.
Crypto markets are known for turning on a dime, especially when big headlines hit. The latest military activity in the Middle East has added a joker to the deck, throwing uncertainty into what had been a relatively smooth upward run. Now, with nerves frayed, traders are playing it close to the chest.
Still, all’s not lost. The bigger picture hasn’t changed, and many long-term investors are brushing off the drop as just another buying opportunity in disguise. They’re not rattled—they’re reloading.
Image 2: (Source: CryptoRank)
At a Crossroads Once Again
As is often the case during periods of stress, the market now finds itself at a fork in the road. One route leads to further losses if fear keeps spreading. The other? A fresh leg higher, powered by bargain hunters and renewed bullish energy. Which path Bitcoin takes may depend more on geopolitics than on technicals this time around.
What’s clear is that confidence took a knock, but it hasn’t been knocked out cold. Veteran traders know this playbook well. When the world starts shaking, markets often wobble before they find their feet again. And Bitcoin—if nothing else—has a habit of bouncing back after being counted out.
Read also: U.S. Regulatory Shift May Send Bitcoin Soaring
For now, though, it’s a waiting game. Investors are glued to both charts and news tickers, watching for the next move. With global tension in the air and key support levels under pressure, the coming days could make or break Bitcoin’s short-term momentum.
