Middle East Tensions Push Bitcoin Below $100K as Dominance Rises
US strikes on Iran’s nuclear sites and confirmation by former President Trump sparked risk-off sentiment, sending Bitcoin below the $103,600 support and testing the $100,000 level. Order-book data shows strong bids at $97,000, but traders like Cas Abbe warn of a possible drop to $93,000–$94,000 before a rebound. Bitcoin Dominance has surged to fresh highs, highlighting a rotation from altcoins into Bitcoin as a relative safe-haven and exerting extra pressure on higher-risk tokens. On the 3-day chart, Bitcoin remains above the 50, 100 and 200 SMAs, yet volume is weakening within the $100,000–$109,000 range. Macro headwinds, including rising US Treasury yields and a Fed rate pause, add uncertainty. A decisive move above $103,600 or a breach of $100,000 will set the next trend. Traders should watch these levels and the $109,300 resistance to gauge market direction.
Bearish
The news of US strikes and escalating Middle East tensions triggered swift Bitcoin selling, breaking key support and testing the $100K mark. Rising Bitcoin Dominance reflects capital flight from altcoins, reinforcing downward pressure on high-risk tokens. Weakening volume amid consolidation between $100K and $109K, combined with macro headwinds like higher US yields and a Fed pause, signals continued short-term bearish momentum. Unless Bitcoin reclaims $103,600, traders should prepare for further declines toward $93K–$94K. In the long term, safe-haven demand could support a rebound, but immediate sentiment remains negative.