Bitcoin price slides toward $100K as Israel-Iran conflict triggers crypto sell-off
Bitcoin price dropped more than 4% to about $103,500 after Israel launched air-strikes near Tehran and Tabriz, reigniting geopolitical risk and sparking a broad crypto sell-off. Roughly $427 million in leveraged long positions were liquidated in 24 hours as traders rushed to safety. Ethereum slipped below $2,500 and XRP fell to $2.10, underscoring the risk-off tone.
Multiple bearish signals are piling up: Bitcoin price failed to reclaim its prior all-time high, daily RSI was rejected near 60, open interest fell even as funding remained positive, and the latest two-hour chart shows price riding the lower Bollinger Band with RSI oversold and MACD deeply negative. Key levels to watch are $102,500 short-term support and the psychologically critical $100,000 liquidity pocket. Resistance sits at $105,700, with a stronger barrier around $108,000; a recovery above the latter would restore the bullish structure.
Headline risk from the Middle East, shifts in funding rates, and fresh liquidation data are likely to dictate near-term direction. Unless tensions ease, sentiment should stay defensive and downside risk across major cryptocurrencies may remain elevated.
Bearish
Air-strikes in Iran have reintroduced geopolitical uncertainty, historically a risk-off catalyst for Bitcoin. The immediate price drop below $104K, heavy long liquidations, declining open interest with still-positive funding, and multiple bearish technical indicators point to selling pressure overpowering bids. Key supports sit at $102.5K and the psychological $100K; failure to hold could trigger deeper losses and dent market confidence. While a swift de-escalation might spark a rebound, current data favor further downside, making the short-term outlook for BTC and the broader crypto market bearish.