Bitcoin price is facing deep downward pressure in the closing session of the week today, June 22, as recent geopolitical tensions have made the sentiment of the cryptocurrency market become clearly negative.
Panic Spreads Across Markets
Data from TradingView shows that BTC/USD has fallen below $102,000 after US President Donald Trump confirmed airstrikes on Iran’s nuclear facilities.
In a televised speech posted on the Truth Social platform, Trump declared:
“Iran must now choose peace, or face further attacks.”
Ahead of a volatile trading week on Wall Street, traders have begun to consider potential bottoms for BTC.
Among them, popular trader Cas Abbe believes that a drop to the $93,000–$94,000 range could occur before bottoming and reversing higher. However, he also said that the probability of BTC falling below $90,000 is only around 20%–25%.
Along with Abbe, several other traders also linked similar events in the past. Specifically, the US retaliatory tariffs announcement in April also caused BTC to plummet before rebounding sharply and reaching a new high.
Trader Merlijn shares:
“In 2022, Bitcoin increased by 42% in just 35 days after the Ukraine war broke out, and that was in a ‘recession’ phase. Now it’s 2025, and the war is back. But the difference is that Bitcoin is now above $100,000 and we are in a bull market. What if history repeats itself?”
