#MarketPullback
Bitcoin experienced a notable pullback, dropping approximately 3.17% to around $104,483 within 24 hours. This decline was driven by a combination of geopolitical tensions and technical factors. Escalating conflicts in the Middle East, particularly Israeli strikes on Iran’s nuclear infrastructure, triggered a risk-off sentiment across markets, prompting investors to seek liquidity and safer assets. This led to over $1.02 billion in liquidations, with 90% affecting long positions, amplifying selling pressure. Technical indicators also played a role, as Bitcoin faced rejection at the $111,241 resistance level near the upper Bollinger Band, retreating toward the mid-band at $106,635. The MACD showed a bearish crossover on lower timeframes, and the long/short ratio dipped to 0.9, signaling bearish momentum. Despite this, support levels around $100,000–$102,000 remain critical, bolstered by institutional ETF inflows and long-term holder accumulation. While short-term consolidation is likely, the broader bullish trend persists, with analysts eyeing a potential rebound to $115,000 if support holds. However, macroeconomic uncertainties, including Federal Reserve policies and equity market correlations, could cap near-term gains, keeping volatility high.
