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

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

📉 Reasons for the drop:

1️⃣ Sudden geopolitical tension: Tensions between Israel and Iran have resurfaced, significantly impacting investor sentiment, especially since 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 broken support: Technically, important support levels such as $106k$ and $105k were broken, prompting traders to sell more out of fear of a continued drop 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 still exists, provided there is 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 for $BTC is still safe.