BTC Price: Panic on $100K Bitcoin Break or Perfect Dip Buy?
Bitcoin (BTC) remains under pressure in June following its historic high above $111,000 in May, as geopolitical tensions and shifting...
Quick overview
- Bitcoin (BTC) has fallen below $100,000 for the first time since early May, pressured by geopolitical tensions and regulatory uncertainties.
- Despite positive developments like the GENIUS Act, market sentiment has soured due to escalating conflicts, particularly between Iran and Israel.
- MicroStrategy's Michael Saylor remains bullish, predicting Bitcoin could reach $21 million per coin in 21 years, citing strong fundamentals.
- Traders are monitoring Bitcoin's potential support around $100,000, with concerns about further declines toward $90,000 or April's lows.
Live BTC Chart
Bitcoin (BTC) remains under pressure in June following its historic high above $111,000 in May, as geopolitical tensions and shifting regulatory dynamics test investor confidence.
BTC Retreats Below $100K Amid War Fears
Despite robust institutional interest and landmark crypto legislation in the U.S., Bitcoin has failed to hold above the $110,000 threshold this month. The technical picture weakened further last week, as sellers tested the 50-day Simple Moving Average (SMA) near $104,000. While this level initially provided support, it ultimately gave way, with BTC falling below $100,000 on Sunday—its lowest since early May.
Bitcoin Chart Weekly – MAs Remain As Support
Market jitters intensified after U.S. forces struck Iranian targets over the weekend, adding to the escalating conflict between Iran and Israel. Rumors of Iran potentially threatening to close the Strait of Hormuz only deepened global risk aversion. Equities slipped, and safe-haven demand surged—while Bitcoin’s volatility left crypto investors cautious.
Regulatory Progress Meets Geopolitical Setback
Just days prior, optimism around the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) had buoyed sentiment. The act marked a pivotal shift in the SEC’s crypto stance, paving the way for more regulated institutional involvement.
Yet that bullish narrative has been overshadowed by escalating global risks. XRP also dropped sharply, sliding below $2.00 as broader crypto sentiment turned negative. The political situation in Washington continues to evolve, adding another layer of uncertainty.
Saylor Doubles Down: $21M Bitcoin in 21 Years?
Still, long-term bulls remain undeterred. Speaking at BTC Prague 2025, MicroStrategy founder Michael Saylor reaffirmed his wildly optimistic forecast: BTC could hit $21 million per coin within 21 years. While aspirational, the statement reflects deep conviction in Bitcoin’s potential as global digital gold.
Saylor noted the confluence of pro-crypto regulation, ongoing fiat currency devaluation, and shifting geopolitical alliances as core reasons for his view.
Conclusion: Opportunity or More Pain Ahead?
This current retracement could offer a golden entry point—if Bitcoin finds support around the $100K zone. Traders are closely watching whether BTC will stabilize here or dip toward deeper support around $90,000, or even retest April’s $74,000 lows.
For now, uncertainty reigns. But for long-term holders, the fundamental case for Bitcoin remains compelling—despite the short-term storm.
Bitcoin Live Chart
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