Bitcoin Drops 2% to Six-Week Low After US Airstrike on Iran

Bitcoin (BTC) experienced a significant drop to a six-week low late Sunday, falling below $98,500 following a US airstrike on Iranian nuclear facilities over the weekend. This decline was a direct response to heightened geopolitical tensions, which put pressure on risk assets broadly. However, the sub-$100,000 level proved to be short-lived as BTC recovered during early Monday trading in Asia, rebounding to around $101,871. This swift recovery highlights the market's sensitivity to geopolitical developments and the strength of near-term technical support.

Ethereum (ETH), Ripple (XRP), and other major altcoins extended last week’s losses, adding to the overall market volatility. Bitcoin now hovers near a key support level at $100,000. A decisive close below this threshold could signal a deeper correction, with the next downside target near Sunday’s intraday low of $98,200. Market participants remain cautious, with geopolitical risk continuing to drive volatility across both crypto and traditional asset classes.

In this volatile environment, one early-stage project that has consistently garnered investor interest is Bitcoin Pepe. The project’s presale continued to see strong inflows even in this risk-off environment. The Israel-Iran conflict entered its 11th day on Monday, June 23, with Israel’s military confirming strikes on surface-to-surface missile launch sites in western Iran. This development follows a significant escalation on June 13, when Israel carried out large-scale attacks targeting Iranian missile infrastructure, nuclear facilities, and senior military officials. Aerial assaults continued into Monday, intensifying after the US launched bunker-buster bomb strikes over the weekend on three of Iran’s nuclear sites. The Trump administration described the strikes as a targeted effort to degrade Tehran’s nuclear capabilities. President Donald Trump declared that the US operation had “obliterated” Iran’s nuclear program, though senior officials noted that it remains too early to fully assess the extent of the damage. Iran has sharply condemned the US involvement, accusing Washington of crossing “a very big red line.” Tehran responded with a warning that it would retaliate against what it sees as direct American aggression. Despite the military escalation, US Defense Secretary Pete Hegseth stated that the administration “does not seek war” and reiterated an interest in returning to diplomatic engagement.

The crypto market has experienced heightened volatility in recent months, marked by sharp rallies, steep corrections, and fluctuating investor sentiment. Amid this backdrop, the Bitcoin Pepe presale has remained resilient, continuing to draw consistent capital inflows. The sustained interest suggests the project may be well-positioned to navigate current market conditions. Billed as the first meme-centric Layer 2 built on the Bitcoin network, Bitcoin Pepe aims to redefine meme tokens by combining Bitcoin’s base-layer security with the scalability features more commonly associated with chains like Solana. This integration of infrastructure strength with cultural relevance sets it apart from many meme tokens that lack underlying technical substance. To support the growth of its Layer 2 ecosystem, Bitcoin Pepe has formed strategic partnerships with Super Meme, Catamoto, and Plena Finance. The project’s dual approach—merging functional utility with meme-driven momentum—is gaining market traction. The development team has also shared visuals of ongoing infrastructure progress to enhance transparency and build trust. The presale has already raised over $15.3 million, with BPEP tokens priced at $0.0416. The token is set to be listed on MEXC and BitMart, a move expected to boost liquidity, increase visibility, and reinforce market credibility. An additional listing announcement is anticipated on June 30, adding to investor interest as the presale nears completion.