Bitcoin Drops 1.41% to $101,978.09 Amid Geopolitical Tensions

Bitcoin's price experienced a notable decline, falling from $105,000 to below $102,000 after briefly reaching the $100,000 mark. This drop was triggered by escalating geopolitical tensions, particularly the confirmation of U.S. airstrikes on Iranian nuclear sites. The strikes sparked fears of a wider conflict, leading to a sharp sell-off in the crypto market. Bitcoin's price dipped below $102,000, with a 1.89% decrease in 24 hours, trading at $101,900. The market volatility was evident as Bitcoin's price fluctuated, briefly recovering to above $102,000 before analysts began searching for the local bottom. The market showed Bitcoin falling below $102,000, now trading at $101,978.09, with a 24-hour decline of 1.41%. The market is volatile, and risk management is crucial.

Analysts predicted that Bitcoin may fall to the range of $93,000 to $94,000, with a probability of dropping below $90,000 at only 20% to 25%. On the 1-hour chart, Bitcoin is attempting to stabilize following a drop to $100,945, with a visible consolidation pattern hinting at a double bottom formation. Buying pressure intensified with volume peaking at 17,906 BTC during the sell-off.