$BTC Bitcoin is currently trading around $104,579, down approximately 3.1% for the day. That’s roughly a $3,300 drop from intraday highs near $108,376, with the day’s low touching about $103,081 .
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📉 Why BTC Is Down Today
1. Geopolitical Tensions
Renewed military strikes by Israel on Iran have sent risk assets tumbling, as investors flock to safe havens amid heightened uncertainty .
2. Federal Reserve Rate-Cut Doubts
Earlier CPI and PPI data tempered expectations for a near-term rate cut, putting downward pressure on crypto. Bitcoin’s failed attempt to break past the $108K resistance compounded the slide .
3. Profit-Taking & Technical Sell-Off
After hitting multi-week highs (~$112K on May 22), BTC encountered strong resistance. Profit-taking kicked in, triggering a technical correction toward key support between $103K–$106K .
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🔍 Key Levels to Watch
Support: $103K–$102K – this zone is critical; if it holds, BTC could stabilize or bounce.
Resistance: $105K–$108K – breaking above could re-open the path toward $112K highs.
Macro Catalysts: Upcoming Fed rate decision (June 18) and Middle East developments likely to drive further volatility.
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🧭 Short-Term Outlook
Expect continued choppiness as markets digest global geopolitical news and Fed signals. A hold above $103K might allow consolidation or a rebound, whereas a decisive break lower could test $100K.
