Bitcoin experienced a sharp decline, briefly falling below the $102,000 mark, driven by heightened geopolitical uncertainty following military strikes targeting Iran’s nuclear facilities.
The escalation prompted a statement from former US President Donald Trump emphasizing that Iran must pursue peace to avoid further military actions, injecting significant volatility into the market.
Market participants are closely monitoring key price levels. Trader Cas Abbe suggested a potential downside target of $93,000-$94,000 represents a plausible stabilization zone, estimating a 20%-25% probability of such a decline occurring.
The $97,000 level is identified as a critical near-term support threshold. Holding this level could significantly influence the asset’s trajectory in the coming sessions.
Analysts advise traders to maintain vigilance, tracking these crucial price points alongside broader macroeconomic and geopolitical developments, as the market remains sensitive to external risk factors.