Bitcoin Dips Below $100k on Geopolitical Jitters, But Is Volatility Back for Good? đ°
Bitcoin took a 6% hit, dropping to $98.2k on Sunday, its lowest since breaking $100k in May, as Iranâs threat to close the Strait of Hormuz spooked markets. Altcoins followed suit, with over $1B in liquidations due to thin weekend trading. BTC bounced back to $100k by Monday, hinting the selloff was more about macro fears than crypto-specific issues. Investors seem to be using crypto as a hedge while traditional markets stabilize, with US stock futures, oil, and gold calming down. Markets are shrugging off major escalation risks for now, thanks to US-China diplomatic efforts. But with BTC hovering around $100k and key economic data like US PMI, Fed speeches, GDP, and PCE inflation coming this week, the marketâs at a crossroadsâcaught between bullish momentum and geopolitical uncertainty.
I think the quick recovery in BTC shows cryptoâs growing role as a go-to hedge when global tensions spike, but the $100k level feels like a shaky tightrope. The marketâs brushing off Iranâs threats for now, which seems reasonable given the diplomatic moves, but this weekâs economic data could easily tip the scales. Volatilityâs definitely stirring, and while itâs not âgreat againâ just yet, traders should buckle up for a wild ride if those Fed speeches or PCE numbers surprise. Keep an eye on that put skewâitâs hinting at some lingering nerves.
If you enjoy my content, feel free to follow me â€ïž
