Bitcoin Bleeds Below $102,000.. Has the Collapse Started?

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1. Market Background 📉

Bitcoin dropped today — by nearly 1.78% — settling below $102,000, according to Binance data.

The decline coincided with a wave of speculative trading that led to liquidations of long positions worth several million dollars, exceeding $730 million across the market.

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2. Reasons for the Drop

A. Geopolitical Tensions

The escalating conflict between Israel and Iran has created a general sense of apprehension among investors towards risk assets, pushing them towards gold or cash flows.

Although Bitcoin is sometimes referred to as "digital gold," it has fallen more than the S&P 500 index during these tensions, repeating a previous failure to act as a safe haven.

B. Liquidation of Trades and Speculator Panic

Massive liquidations of long positions increased downward pressure, and there is a possibility of counter pressures (short squeeze) if buyers return.

C. Technical Factors

Bitcoin's failure to surpass strong resistance levels at $108,000–$109,000 led to a rebound and correction towards support levels closer to $102,000–$103,00074702025847

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