Bitcoin Holds $100,000 Despite 1.17% Drop From U.S. Iran Strikes

Bitcoin has been holding firm at the $100,000 mark, despite rising macro tensions following the U.S. targeting of two of Iran’s nuclear sites. The cryptocurrency initially reacted with a 1.17% drop, hitting $100,979, but a $50 million short squeeze quickly reversed the move. This price action, however, remains fragile as bulls target the $103,500 zone as a springboard toward the $105,000 resistance. The geopolitical risks are escalating, with former U.S. President Donald Trump signaling potential retaliation from Iran, which could further increase global uncertainty.

The U.S. strikes on Iran occurred overnight on a weekend, sparing equities from a full-blown panic. However, the crypto market was not as fortunate, with over $711 million in leveraged positions liquidated across exchanges. Bitcoin took a 1.17% hit, but this was not the worst drawdown of June. Earlier this month, a sharp 3% drop sent BTC tumbling to $100,424 as long liquidations exploded. This time, however, BTC swept a $50.8 million liquidity cluster at $100,910, flushing out late shorts and resulting in a sharp 2.4% bounce off support, reinforcing the strength of the bid-side wall and keeping $100,000 intact, at least for now.

This marks the second time Bitcoin has tapped $100,000 support in June. The first bounce proved decisive, with BTC ripping nearly 10% in under a week, reclaiming the $110,000 supply zone and flipping key short-term resistance. However, pulling that off again might be tougher. For now, BTC looks set to consolidate in a tight range as traders de-risk and recalibrate exposure around this critical psychological level.

Post-macro FUD market dynamics are critical. Shorts are circling, hunting for structural breakdowns, evident as Bitcoin Funding Rates flipped negative, mirroring early June’s breakdown. This shows a bearish bias in the perpetual markets, with traders paying to hold shorts while price teeters around $102,400, making room for either capitulation or rebound. Meanwhile, the 12-hour liquidation heatmap highlights a massive $62.63 million long cluster on the brink if BTC retests $101,502, keeping the $100,000 breakdown risk firmly in play. However, with bulls firmly defending the $100,000 structural support despite significant macro headwinds, the probability favors their hold. According to the analyst's forecast, this systematic absorption of liquidity suggests a higher likelihood of an early-June style rebound, signaling resilience amid heightened volatility.