Recent geopolitical tensions, including US air strikes on Iranian nuclear sites and threats to close the Strait of Hormuz, have heightened risks and impacted global markets.

Oil prices rose sharply, while stock futures edged lower. The crypto market also reacted, with Bitcoin briefly dipping below $100,000 over the weekend.

$313M Liquidated as Bitcoin Falls

Bitcoin fell below the key support as tensions between the US and Iran escalated. The decline followed US air strikes on Iranian nuclear sites and subsequent Iranian threats to close the Strait of Hormuz—a key oil shipping route.

The drop triggered liquidations of long positions, pushing Bitcoin to $98,000 before a swift recovery brought it back above $101,500.

Simon Peters, crypto analyst at eToro, noted: "As the price began falling on the back of the escalating geopolitical tensions, approximately $313 million worth of traders' long positions were liquidated, exacerbating the price fall."

Looking ahead, traders are monitoring a busy week of US economic data, including PMI figures today, GDP numbers on Thursday, and the Fed’s preferred inflation gauge—the PCE index—on Friday.

Additionally, Fed Chair Jerome Powell’s testimony during the Semiannual Monetary Policy Report to Congress on Tuesday and Wednesday may influence market sentiment, alongside ongoing geopolitical developments.

You may find it interesting at FinanceMagnates.com: Kiyosaki Predicts Bitcoin at $1 Million by 2030 as Economic Crisis Looms. How High Can BTC Price Go?

BTCUSD Holds $100K Support Despite Dips

From a technical perspective, BTCUSD is currently trading above the $100K level, indicating that this remains a significant support point for the cryptocurrency. However, on shorter timeframes, the price dipped and traded below this level earlier, which could signal a potential downside move.

If this decline continues, buyer interest may wane, leading the price to seek its next support level. A strong bullish reversal pattern near that area could then attract buyers and help push the price back upward.

🚨 BREAKING

BITCOIN JUST BROKE $100,000

This is after Iranian parliament voted to close the Strait of Hormuz — choking off ~20% of the world’s oil supply.

-> Oil is spiking
-> Stock markets are sliding
-> Investors rushing to hard assets

We are entering uncharted territory. pic.twitter.com/71CtyIJNMk

— Brian Rose, Founder & Host of London Real (@LondonRealTV) June 22, 2025

You may find it interesting at FinanceMagnates.com: This Analyst Who Called XRP's 600% Rally Just Made Another Bold Price Prediction.

Facing Geopolitical Uncertainty, but Institutional Interest Remains Strong

Despite the geopolitical uncertainties, institutional interest in Bitcoin persists. Recent inflows into spot Bitcoin ETFs, such as BlackRock’s iShares Bitcoin Trust, amounting to about $81 million, contrast with broader market outflows. Surveys show that over half of institutional investors allocate at least 10% of their portfolios to digital assets.

🚨🇮🇷🇺🇸 BREAKING: OIL TANKERS are already REFUSING to sail through the STRAIGHT OF HORMUZ.

Oil prices are about to EXPLODE! pic.twitter.com/lGgO5DS8Xy

— Jackson Hinkle 🇺🇸 (@jacksonhinklle) June 22, 2025

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