$BTC Bitcoin Market Analysis: Geopolitical Tensions and Crucial Price Levels to Watch

A recent market analysis suggests a bearish short-term outlook for BTC

BTC

106,743.11

+1.02%

, significantly influenced by escalating geopolitical tensions. The evolution of the Israeli-Iranian conflict is cited as a major factor that has altered market dynamics, challenging Bitcoin's status as a safe-haven asset.

According to the analysis, unlike gold (GOLD), which is expected to experience a notable surge at the market open, Bitcoin has failed to act as a security asset. This situation points towards a potentially volatile and challenging week for risk-on markets. The expectation is that BTCmay seek lower price levels before a possible attempt to rebound towards a new all-time high (ATH).

Several key price levels have been identified as critical to BTC future trajectory:

* 104850: This is a significant support zone. A break below this level could signal a continued downturn.

* 93350: This threshold is considered a strategic buy zone in the event of a significant price retracement.

* 100700: A breach of this zone could trigger a much more severe and rapid price fall.

In conclusion, the overall sentiment for Bitcoin remains bearish as long as no resolution to the conflict is in sight. An improvement in the geopolitical landscape or highly favorable external news would be required to reverse the trend. The analysis maintains a selling perspective, targeting the 100k zone at a minimum.