🔻 What is happening in the Bitcoin market? Here’s the complete summary 🔍

The price of Bitcoin is currently around $103,879, after a noticeable drop of over $2,000 in the last 24 hours, amidst sharp fluctuations that have affected all cryptocurrencies.

📉 Reasons for the current drop:

1️⃣ Sudden geopolitical tension: Tensions between Israel and Iran have resurfaced, significantly impacting investor sentiment, especially as cryptocurrencies have shown weakness in their role as a safe haven during crises.

2️⃣ Massive liquidation of positions: On June 20, the market witnessed the liquidation of positions worth $466 million, most of which were long positions, causing a sudden and rapid drop in prices.

3️⃣ Technical pressure and support breaks: Technically, important support levels like $106k and $105k have been broken, prompting traders to sell more out of fear of continued decline towards levels like $100k or lower.

⏳ Where is the market heading?

📍 Short-term:

Bitcoin may retest support between $100,000 – $102,000.

Any strong break below this level could open the way towards $97,000.

📍 Medium to long-term:

The upward trend remains intact, provided stability and continued institutional demand.

Important resistance at $108,000 – $110,000; if breached, we may witness a significant upward wave.

✅ Final summary for investors:

💡 If you are a long-term investor:

Opportunities are created in times of fear. Monitor support levels and watch institutional movements, as the market remains a safe haven.