Bitcoin faces critical resistance at $102.5K with $1.04B in short liquidations on the line.
A fall below $100K could trigger $345M in long position liquidations, raising market stress.
Traditional assets like oil and gold gain as crypto markets react to geopolitical instability.
Bitcoin briefly dropped below the $100,000 mark for the first time since May following reported US airstrikes on Iranian nuclear sites. The geopolitical event shook the financial markets of the world, prompting brutal liquidations and selloffs within the cryptocurrency space.
As of Monday, 22 June, during the morning hours, the cost of Bitcoin had recovered to above $101,000 but within a thin trading range. Once the asset breaks above the price of $102,500, market materials imply that more than $1.04 billion worth of short positions may be liquidated.
Such range-bound trading has created more pressure on bulls as well as bears, with the trading volume rising by 36% to reach $62.96 billion.
Long Positions at Risk if BTC Drops Below Six Figures Again
The current trading zone between $97,000 and $102,000 has become a high-stakes battleground. Should BTC fall again below the $100,000 line, it could result in the liquidation of $345 million worth of long positions. Around 1.14 million BTC was accumulated by 1.6 million addresses at an average of $97,000, making this a crucial support level.
Even with the recently witnessed macroeconomic tailwinds such as instability of fiscal policy and inflating wolves, Bitcoin has not been able to break the $110,000 mark thrice in the last five weeks. Analysts acknowledge that the market has proved resilient to recent U.S. tariff action and rising tension between Iran and Saudi Arabia, but the wind is in an uphill position.
Market Sentiment Weakens as Gold and Oil Strengthen
Bitcoin’s struggle is mirrored by broader crypto weakness. Ethereum has seen a decline due to highly leveraged futures markets, while stablecoin inflows have decreased. Meanwhile, traditional safe-haven assets like gold and oil have rallied. Brent crude rose nearly 2.7%, and gold reached an average trading price of $3,364.66, with forecasts suggesting a potential rise to $4,000.
The post Bitcoin Struggles at $101K Amid Rising Geopolitical Tensions appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
