💥 Trump's words ignite the powder keg! BTC plummets below $100,000, Middle East conflict 'burns' $634 million in crypto leverage!
⚠️ Is 'Make Iran Great Again' the trigger? BTC falls sharply below $100,000, a $10 billion crypto market on the brink of war!
Trump's call to 'Make Iran Great Again' leads BTC to fall below the $100,000 mark amid geopolitical conflict.
Following the U.S. strikes on Iranian nuclear facilities and Israel's continued airstrikes, a geopolitical storm is sweeping the global financial markets. Early this morning, U.S. President Trump made a highly controversial statement via Truth Social: 'If the current Iranian regime cannot make the country great again, then why shouldn't there be a regime change?' He even shouted the slogan 'Make Iran Great Again' (MIGA). This statement quickly sparked heated discussions and was interpreted by the outside world as possibly laying the groundwork for further escalation of geopolitical conflicts. As a result, the cryptocurrency market experienced sharp fluctuations, with Bitcoin (BTC) falling below the $100,000 mark, and market sentiment swinging between fear and caution.
Crypto market experiences turbulence: BTC drops below $100,000, ETH plunges 10%
The direct consequences of escalating geopolitical tensions are quickly reflected in the cryptocurrency market. According to OKX market data, BTC fell to $98,188 this morning, marking its lowest point since May 12, with a 24-hour decline of 4.4%. As of the time of writing, BTC's price has slightly rebounded to $101,014, with a daily increase of 0.67%. Meanwhile, Ethereum (ETH) performed even worse, dipping to $2,111, with a maximum 24-hour decline of over 10%, currently recovering to $2,232.
The derivatives market also did not escape unscathed. According to Coinglass data, the total liquidation amount across the network reached $634 million in the past 24 hours, with BTC liquidations amounting to $231 million and ETH liquidations at $189 million. Liquidations were mainly concentrated on long positions, indicating that market leverage has been significantly cleaned out, severely impacting investor confidence.
However, Alternative.me's 'Fear and Greed Index' shows that market sentiment has rebounded from yesterday's 42 (fear) to 47 (neutral), suggesting that panic sentiment has eased, and some investors are beginning to attempt to build positions at lower levels.
Battle of bulls and bears on the edge of the storm: Diverging expert opinions
In the face of this round of market turmoil, industry experts have offered starkly different interpretations. Below is a summary of the main viewpoints:
Santiment: Deteriorating situation, BTC stability may be due to weekend effect.
Crypto analysis agency Santiment pointed out that the U.S. military's bombing of Iranian nuclear facilities on the 22nd marks a new climax in the Israel-Iran conflict. The domestic reaction in the U.S. is polarized: Democratic Congresswoman Alexandria Ocasio-Cortez calls for Trump's impeachment, while supporters argue that this action curbs Iran's nuclear capabilities.
Global analysts warn that Iran may retaliate through cyberattacks or by cutting oil channels, while Trump threatens to counter with 'more powerful force,' further escalating tensions. Santiment observed a surge in social media mentions related to 'Iran,' but BTC prices showed no significant volatility, possibly due to the events occurring during the weekend night in the U.S., where trading activity is relatively low.
Arthur Hayes: Market weakness is temporary, Bitcoin's safe-haven attribute will become prominent
Arthur Hayes, co-founder of BitMEX, holds an optimistic view. He believes that the current market weakness is only a short-term phenomenon, and as central banks around the world continue to expand the money supply for 'national interests,' Bitcoin's value as a safe-haven asset will gradually be recognized, with a positive long-term outlook.
CryptoQuant: Demand is slowing, and $92,000 may become support.
CryptoQuant Research Director Julio Moreno analyzed that Bitcoin demand significantly slowed after the price approached $112,000. Spot demand growth is below historical trends, with whale and ETF purchase volumes halved, and interest from new investors declining. In the futures market, investors tend to take profits and build short positions.
He expects that if demand remains weak, BTC may find support around $92,000, which corresponds to the on-chain cost price for traders. If this support fails, the next key level could be $81,000.
James Wynn: Bearish until $93,000-$95,000
Trader James Wynn holds a pessimistic view, having increased his short positions, with a target price set between $93,000 and $95,000. He believes that the market has not yet fully reflected the escalation of geopolitical risks and that there is no expectation of interest rate cuts in the U.S., leading to a lack of dollar liquidity support for bullish logic. He even proposed a conspiracy theory, claiming that the U.S. might lower BTC prices through a 'black swan event' to create opportunities for themselves to accumulate at lower levels.
Konstantins Vasilenko: Europe benefits from MiCA, U.S. retail investors exit.
Konstantins Vasilenko, co-founder of Paybis, pointed out that in the first quarter of 2025, the EU's trading volume surged by 70% due to the MiCA regulation. MiCA introduces a single license and strict stablecoin regulation, enhancing investor confidence. In contrast, retail trading activity in the U.S. has shrunk, with Coinbase's retail trading share dropping from 40% in 2021 to 18%, and Robinhood's crypto trading volume declining by 35% during the same period. He believes that regulatory uncertainty in the U.S. is the main drag factor, as, despite the Trump administration's verbal support for cryptocurrencies, there is a lack of substantive legislation.
Market pricing 'the breadth of war': Where is it headed?
This geopolitical storm is not only a military and political game but also a collective test of global risk appetite. Trump's 'Make Iran Great Again' rhetoric has pushed the Iran issue to new heights, while BTC and ETH have become barometers for capital flows. From the $634 million liquidation to the battle for on-chain support levels, the market is assessing not whether war will occur, but the scale and impact of its boundaries.
If BTC can hold the support range of $98,000 to $101,000, and ETH continues to attract institutional funds, the crypto market may enter a recovery phase after significant volatility.
However, if geopolitical risks spill over to more countries, or if the Federal Reserve sends hawkish signals, the market may face a new round of liquidity crisis. In the short term, investors need to closely monitor the evolution of geopolitical situations and central bank policy directions, as these will be the key factors determining the next phase of the crypto market's fate.
