tl;dr
Bitcoin dropped below $100,000 briefly on June 23, 2025, following Iran's missile strike on a US air base in Qatar, which caused no casualties. The price quickly recovered to nearly $104,000 as tensions eased. Analysts identify $94,000-$95,000 as critical support and $105,000-$110,000 as resistance,...
Bitcoin's price experienced a sharp drop below $100,000 on June 23, 2025, shortly after Iran launched a missile attack on a US air base in Qatar. The strike, which caused no casualties, quickly led to a rebound as market fears eased, pushing Bitcoin’s value back to nearly $104,000 within a few hours. This rapid recovery demonstrated the cryptocurrency’s resilience amid geopolitical turbulence.
Analysts have identified a critical support zone for Bitcoin between $94,000 and $95,000, with resistance expected in the $105,000 to $110,000 range. They anticipate that Bitcoin will continue trading within this corridor unless a significant inflow of capital or further geopolitical disruptions occur. Futures and options markets remain active, although total derivative interest has declined from recent peaks, signaling a shift toward more stable, long-term positions as indicated by healthier funding rates.
The geopolitical backdrop involved Iran’s limited missile strike in response to a US bombing of Iranian nuclear sites days earlier, with Washington reportedly receiving advance warning that helped avoid casualties. The US administration described the missile strike as “very weak,” hinting at possible de-escalation. Bitcoin’s market activity reflected the quick digestion of this news, with a brief plunge under $100,000 before liquidity providers restored buying depth, stabilizing prices just below $104,000.
Market data at the time showed Bitcoin holding a dominant position with a market capitalization of $2.09 trillion and a 24-hour trading volume of $60.95 billion. The broader crypto market stood at $3.24 trillion, with Bitcoin commanding 64.57% dominance. Analysts point to ETF inflows as a critical foundation supporting Bitcoin’s price floor, suggesting that continued or increased inflows during US trading hours could pressure prices toward the upper resistance zone. Conversely, sustained outflows combined with renewed geopolitical tensions could pull Bitcoin back toward support levels in the mid-$90,000s.
Overall, the episode illustrates the delicate balance between geopolitical events and cryptocurrency markets, highlighting Bitcoin’s ability to absorb shocks and the importance of derivative and ETF activity in setting the tone for its near-term price movements.