Daily Crypto Signals: Bitcoin Tests $100K, Ethereum Faces Massive Whale Sell-Off Amid Iran Strike Tensions
Bitcoin fell below the critical $100,000 psychological support level following US military strikes on Iran's nuclear facilities, while Ether
Quick overview
- Bitcoin fell below the critical $100,000 support level due to geopolitical tensions and military actions involving the US and Iran.
- Ethereum is under significant pressure following a large whale transfer of 129,392 ETH worth $312 million to Coinbase.
- Major altcoins like XRP and Solana have also broken below key support levels, indicating increased selling pressure across the market.
- Despite the current bearish sentiment, some analysts remain optimistic about the long-term potential of cryptocurrencies amid historical geopolitical trends.
Bitcoin BTC/USD fell below the critical $100,000 psychological support level following US military strikes on Iran’s nuclear facilities, while Ethereum ETH/USD experiences significant downward pressure from a $312 million whale transfer to Coinbase. The broader crypto market is experiencing heightened volatility as geopolitical tensions escalate, with major altcoins including XRP XRP/USD, Solana SOL/USD, and Hyperliquid all breaking below key support levels.
Crypto Market Developments
The crypto market is having a hard time since hostilities between countries are rising, and the US is directly involved in the Israel-Iran dispute. President Donald Trump’s confirmation of strikes on Iranian nuclear sites has made people less willing to take risks with their digital assets. Investors are pulling back from investments that are more risky. Even if there is a lot of bearish pressure right now, some analysts are still hopeful about the long-term picture. They point to historical situations where geopolitical uncertainty helped crypto assets in the long run.
Texas has made news by formally creating the first Strategic Bitcoin Reserve at the state level. This was done through Senate Bill 21, which Governor Greg Abbott signed. The reserve works on its own and only accepts assets with market capitalizations over $500 billion. Right now, only Bitcoin meets this requirement. Meanwhile, more and more institutions are adopting Bitcoin. For example, Nakamoto Holdings, a business that holds Bitcoin, raised $51.5 million in less than 72 hours, showing that investors are very interested in ways for accumulating Bitcoin.
International initiatives to get more people to use Bitcoin are also picking up speed. For example, Jan3 founder Samson Mow met with French European Parliament member Sarah Knafo to talk about creating a Strategic Bitcoin Reserve for France and pushing for crypto-friendly laws across Europe.
Bitcoin Reclaims $100K Support
Bitcoin is trading at about $100,792. This is the first time in months that it has gone below the psychologically crucial $100,000 support barrier. The main cryptocurrency has lost more than 7% of its market value in the past month, and technical indicators are exhibiting worrying signs. Bitcoin’s daily chart shows that it has closed below its 50-day moving average. This happened for the last time in February, when it was trading at about $84,000, and then it dropped to $74,000 in April.
Technical research indicates that Bitcoin may encounter additional downward pressure, with trader Cas Abbe forecasting a possible decline towards the $93,000-$94,000 range prior to any significant reversal. A bearish descending triangle pattern has finished, and the next objective might be $89,420. However, support levels around $97,000 are likely to be strong, according to exchange order book liquidity data.
Even though the mood is gloomy right now, some traders are still hopeful about Bitcoin’s long-term future. Historical data shows that Bitcoin went up 42% in 35 days during the 2022 Ukraine conflict, even though the market was going down. Some analysts think that similar increases fueled by geopolitics could happen again if history repeats itself, since Bitcoin is currently worth more than $100,000 and is still in a bull market cycle.
Ethereum Holds Above $2,200
Ethereum (ETH) is under more stress than Bitcoin right now. Its price has dropped sharply by 12.80% in the last 24 hours, and it is now trading at about $2,237. The second-largest cryptocurrency has not done as well as Bitcoin. It hit lows at $2,155 as selling pressure grew after the geopolitical events.
A huge whale transaction that moved 129,392 ETH worth $312.98 million to Coinbase was a big reason why Ethereum’s price fell. This transfer from a wallet that hadn’t been used since November 2022 has people worried about a big sell-off that is going to happen. This transfer happened at the same time that Ethereum couldn’t stay over $2,500, which has made many more negative.
But other big holdings are sending out signals that go against the trend. Even though the market as a whole was going down, one Ethereum whale bought over $39 million worth of ETH, which suggests that some institutional investors see the fall as a chance to purchase. On June 21, Ethereum mega-whales with more than 10,000 ETH added more over 116,000 ETH worth $265.30 million. This shows that smart investors are very interested in “buying the dip.”
Technical research says that Ethereum could find support near an upward trendline that caused a 55% rise in April and May of 2025. If this pattern stays the same, ETH might go back up to $2,735, which would be a 25% gain from where it is now.
Top Altcoins to Watch Today
- XRP is experiencing significant volatility, trading around $2.01 after breaking below its crucial $2.00 support level. The breakdown from the $2.00-$2.65 range suggests increased selling pressure, with potential downside targets at $1.61 and possibly $1.28 if the current support fails to hold. XRP’s on-chain activity has reportedly declined by 80% over the past five months, though experts remain divided on whether this indicates bearish or bullish implications for the asset.
- Solana (SOL) has completed a bearish head-and-shoulders pattern, falling below $140 support and currently trading around $132.37. The pattern suggests potential further downside toward $110 and eventually the pattern target of $93. However, oversold conditions on technical indicators suggest a relief rally could be possible in the near term.
- Hyperliquid (HYPE) is facing selling pressure after repeated failures to maintain prices above $42.50, with the token currently testing support at its 50-day simple moving average around $32.26. A break below this level could lead to further declines toward the breakout level of $28.50.
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