Bitcoin Plummets 1% to $102,700 After US Airstrikes on Iran

Bitcoin (BTC) experienced a significant drop, falling to a low of $100,979 following the announcement by US President Donald Trump that the United States had conducted successful airstrikes on key nuclear sites in Iran. This news sent shockwaves through the markets, causing BTC to plummet as traders reacted to the geopolitical tensions. The flagship cryptocurrency was down nearly 1% over the past 24 hours, trading around $102,700.

Bitwise CEO Hunter Horsley offered his perspective on Bitcoin's role in global finance, suggesting that rather than gold, Bitcoin's primary competition is US Treasuries and other government bonds. Horsley described these as the ultimate political stores of value, highlighting the evolving landscape of investment options. He noted that while gold and Bitcoin offer different levels of volatility, both attract investors seeking alternatives to traditional monetary assets. Horsley also discussed the differences between institutional and individual investors, questioning if residential real estate could be the true total addressable market for Bitcoin, shifting the comparison from financial instruments to tangible wealth preservation assets. He emphasized that regulatory uncertainty, once a significant obstacle for Bitcoin investments, is no longer the primary concern in 2025, marking a significant shift in the market's perception of the cryptocurrency.

Michael Saylor, the founder and executive chairman of Strategy, reaffirmed his bullish stance on Bitcoin despite global tensions and uncertainty. Speaking at the BTC Prague 2025 event, Saylor predicted that BTC could reach $21 million in 21 years. This prediction aligns with his previous bullish outlook, where he had forecasted that Bitcoin would hit $13 million by 2045. Saylor's optimism is grounded in several geopolitical, regulatory, and adoption developments, including the White House's embrace of Bitcoin, which he described as an extraordinary development. He also noted that his bullishness on the asset remained unchanged, even during the last crypto winter when Bitcoin plunged to $16,000.

Bitcoin's price analysis reveals a tumultuous week for the cryptocurrency. The price slumped to a low of $100,979 as market sentiment turned bearish following the US airstrikes on Iran. The liquidation of over $450 million in long positions within 24 hours, compared to $60 million in short positions, was described by an analyst as a "cleansing of latecomers chasing the rally." Historically, Bitcoin has shown bullish tendencies following rate stabilization, especially when paired with signs of liquidation exhaustion and fading open interest. The price action over the past week was volatile, with BTC experiencing significant fluctuations as it struggled to regain key levels. Despite the challenges, Bitcoin has shown resilience, recovering from intraday lows to register marginal increases and reclaiming key support levels.