Bitcoin Slides Toward $100K as Market Signals More Downside Ahead
Bitcoin's price has retreated sharply in recent days, with futures market data suggesting a potential slide to the $100,000 mark. On Wednesday, June 18, BTC fell to $104,650 — a 6.52% drop from its yearly peak — as bearish sentiment takes hold.
Futures and options data reinforce the gloomy outlook. According to Deribit, the put-to-call volume ratio has jumped to 2.17, showing a rising number of traders hedging against further losses. Notably, open interest in puts expiring this Friday is heavily concentrated at the $100,000 strike, indicating traders are preparing for more downside.
Investor caution has intensified amid escalating tensions in the Middle East. On Tuesday, Donald Trump hinted the U.S. might become involved in the conflict, possibly targeting Iran’s Supreme Leader, Ayatollah Ali Khamenei. Such rhetoric has fueled fears of broader instability.
The geopolitical crisis is already impacting global markets. Crude prices have climbed, with Brent reaching $76 and WTI hitting $74. Shipping costs are also rising, adding to inflationary pressures. In response, the Federal Reserve may adopt a wait-and-see approach at its upcoming policy meetings, balancing geopolitical uncertainty with Trump’s proposed tariffs.
Still, there are some bullish signals. Spot Bitcoin ETFs saw over $216 million in inflows on Tuesday, pushing total cumulative inflows to $46.26 billion. According to a note from XBTO analysts, this uptick points to continued long-term interest in Bitcoin despite short-term headwinds.