The cryptocurrency market situation in the past 24 hours
The cryptocurrency market faced a heavy shock within 24 hours, as Bitcoin's price dropped over 4%, falling below 100K USD for the first time in several weeks. This rapid decline occurred right after shocking news from the global stage: President Donald Trump announced airstrikes on three nuclear sites in Iran. This operation was described as 'successful', with the facilities being 'wiped out'.
The impact of geopolitical war on the cryptocurrency market
After this attack, Iran declared it would blockade the Strait of Hormuz — a key global energy transportation route. Political tensions are rising, causing negative reactions in the markets, especially in the cryptocurrency market. Panic sentiment is spreading, leading to strong sell-offs and position liquidations.
Liquidation of billions of USD in one day
In just one day, over 1.02 billion USD in positions were liquidated across the market, with Bitcoin leading the decline. Popular altcoins like Ethereum and Solana also broke key support levels, signaling the potential for continued sharp declines in the near future.
Bitcoin's next potential
Technical analysis and support levels
Experts believe Bitcoin is currently testing the support range from 100K to 102K USD. If it maintains above this level, the likelihood of retesting the temporary bottom or sideways movement in the short term is very high. Conversely, if it drops further, the next support levels are around 96K – 97K USD.
Short-term trend prediction
In larger time frames, technical indicators show that bearish momentum is weakening. These signals suggest a long-term possibility of a sideways correction or accumulation phase in the coming weeks or months.
Recovery trends and associated risks
Although some small recoveries may occur in the short term, analysts predict that strong bullish rallies are unlikely in the near future. This is due to technical factors and rising international risks, particularly prolonged geopolitical tensions.
Source: https://tintucbitcoin.com/bitcoin-giam-manh-thanh-khoan-tren-1-ty-usd/
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