$BTC

📰 Market Highlights

Geopolitical tensions in the Middle East—specifically Israel's strike on Iran—sparked a broad crypto sell-off today. Bitcoin dipped below $103,000 at one point, driven by risk‑off sentiment .

Liquidations: Roughly $450 million in leveraged BTC positions were liquidated—a sign of panic-deleveraging among traders .

Market breadth: 98 of the top 100 cryptocurrencies are trading lower, with total crypto market cap dropping ~6% to about $3.38 trillion .

Safe-haven shift: Traditional assets like gold and cash saw inflows, while BTC underperformed during the flare-up .

📉 Technical & Derivatives Insight

Current price action: BTC is trading around $104K—down ~1.6% from yesterday—after breaching the $106K–$105K support zone .

Options expiry: Nearly $3 billion worth of Bitcoin options expire around June 14. The max pain level is around $107K, which could act as a magnet—though today’s volatility may push price lower ahead of expiry .

🔍 What to Watch Next

1. Support levels near $102.5K–$103K—a breakdown there could pull BTC toward ~$100K .

2. Max‑pain expiry at $107K—recovery above this could signal bounce potential into expiry, while failure may extend the pullback .

3. Geo-news updates—any further Middle East escalation could prolong selling pressure.

4. Macro data & Fed commentary—especially U.S. CPI prints or Fed speech; softer inflation would support risk assets like BTC.

🧭 Summary

Today’s drop—spurred by geopolitical risk-off sentiment and heavy liquidations—dented gains after recent highs of $110K+. Watch the $102K–$103K support zone and the $107K max-pain mark into tomorrow’s options expiry. Any signs of easing from the Middle East or renewed institutional demand could help stabilize price.