Bitcoin Drops 3.6% to $102,225 Triggering $464 Million in Liquidations

Bitcoin (BTC) experienced a significant drop on June 20, reaching its lowest price for the month. This decline triggered $464 million in liquidations across cryptocurrency markets, as geopolitical tensions and heavy selling pressure unsettled traders. Bitcoin fell to a low of $102,225, reversing earlier gains and failing to break through resistance above $106,000. Data from Coinglass indicated that over $466 million in leveraged positions were liquidated in the past 24 hours, with $392.9 million from long positions and $73.4 million from shorts.

Ethereum (ETH) liquidations amounted to $157.8 million, surpassing Bitcoin’s $124.1 million over the same period. Over 130,736 traders were liquidated, with the largest single liquidation order occurring on Bybit’s BTCUSD pair, valued at $8 million. As of the latest update, Bitcoin was trading at $103,122, with bulls attempting to hold above the $102,000 support established earlier this month. Ethereum was trading at $2,412 after falling to a low of $2,363. The broader altcoin market mirrored Ethereum’s performance, falling to new monthly lows despite Bitcoin holding above $102,000.

The decline coincided with renewed geopolitical tensions in the Middle East, with reports of military strikes reigniting risk aversion across global markets. Equities also traded lower, and lingering uncertainty could keep digital assets under pressure in the short term. Technical analysts warned that if Bitcoin closes below the key $102,000 threshold, it could open the door to deeper losses toward $100,000 or even the mid-$90,000 range. However, the spike in liquidations and extreme negative sentiment might signal a possible short-term bottom if buyers step in to absorb the sell-off.

Bitcoin has been volatile for much of June, repeatedly testing resistance and support between $100,000 and all-time highs. Despite the recent drop, the flagship crypto remains up about 40% year-to-date, supported by strong institutional demand and new exchange-traded fund flows earlier this year. Markets will be closely watching for signs of stabilization over the weekend, with attention focused on whether Bitcoin can hold above psychological support at $100,000, a level traders view as critical for keeping bullish momentum intact.