On Sunday, June 22, Bitcoin dropped about 4.13% to $99,237 following escalating geopolitical uncertainty tied to U.S. airstrikes on Iran’s nuclear facilities .
Cryptos like XRP, Dogecoin, and Ethereum also declined, triggering over $1 billion in liquidations across the crypto space .
Decrypt confirms Bitcoin plunged below $100K as geopolitical fears rippled through markets .
Market rebounds, despite dip
Bitcoin quickly rebounded above $102K after falling below $101K. Trading volume surged, with increased momentum driven by hedge fund giants .
James Lavish, from the Bitcoin Opportunity Fund, commented on X (formerly Twitter):
> “If you are selling Bitcoin because of the possibility of the world going to war, you have absolutely no idea what you own.”
Major liquidations seen during volatility
Over $600 million in crypto long positions were liquidated after the U.S.–Iran strikes, although Bitcoin weathered the storm better than some altcoins .
CoinDesk reports approximately $450 million wiped out when BTC dropped below $103K on June 20 .
Bullish forecast from Michael Saylor
Michael Saylor, co-founder of MicroStrategy, doubled his long-term BTC price prediction—projecting it could reach $21 million by 2046, citing geopolitical and regulatory shifts .
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🧭 What it all means
Factor Impact
Geopolitical risk Middle East tensions sparked a sharp but short-lived BTC crash below $100K.
Investor behavior Heavy liquidation followed by aggressive buy-ins suggest institutional confidence.
Long-term sentiment Prominent industry voices remain highly bullish on Bitcoin's trajectory.