Bitcoin experienced a brief dip below $102,000 following geopolitical tensions after the confirmation of a strike on Iran’s nuclear sites, as reported by Cointelegraph via COINOTAG News on June 22nd. The statement from former President Trump emphasized that Iran must pursue peace to avoid further military actions, injecting uncertainty into the crypto market ahead of Wall Street’s opening. Market participants are bracing for heightened volatility as traders seek to identify a potential support zone for BTC.
Prominent trader Cas Abbe highlighted the possibility of a corrective phase, suggesting Bitcoin could decline towards the $93,000 to $94,000 range before stabilizing and initiating a rebound. However, Abbe quantified the likelihood of such a drop as relatively low, estimating a 20%-25% chance of Bitcoin reaching the lower $90,000s. This measured outlook reflects cautious market sentiment amid ongoing macroeconomic and geopolitical developments.
According to CoinGlass analytics, the $97,000 level remains a critical support threshold, potentially serving as the first significant defense against further downside. Traders and investors are advised to monitor this price point closely as it may dictate near-term price dynamics in the Bitcoin market.