Bitcoin’s price has once again taken a nosedive, sending shockwaves through the cryptocurrency markets. The digital currency, which had been comfortably perched above the $100,000 mark, now finds itself in a precarious position as geopolitical tensions between Iran and Israel intensify. This conflict has rippled across global financial markets, dragging Bitcoin down with it. As detailed in our recent coverage, Bitcoin Price Crashes Below $100K as Iran Votes to Close Straits of Hormuz, these geopolitical developments have had a significant impact on Bitcoin’s valuation.
The Bearish Trend Strengthens
Crypto analyst Master Ananda, in a recent TradingView post, has sounded the alarm on what seems to be a foreboding future for Bitcoin. The digital currency, he notes, is currently exhibiting significant bearish formations. “The weekly chart isn’t looking promising,” he remarked, pointing to the persistent decline that began after Bitcoin hit a peak of $111,900 on May 19, 2025.
The ominous sentiment is compounded by the staggering $1 billion in liquidations that have rocked the market over the past week. This massive sell-off has only served to embolden the bears, further eroding confidence in Bitcoin’s short-term prospects. Ananda suggests that the next crucial support level lies at a somewhat ominous $88,888. Should Bitcoin slip below this threshold, a further retreat to $82,500 might be on the horizon before any bullish sentiments can be rekindled.
A Glimmer of Hope?
Despite the gloomy outlook, some analysts maintain a degree of optimism. Should Bitcoin manage to claw its way back above the $100,000 mark, it could signal the start of a new bullish phase. Ananda himself notes that a resurgence to this level might spark a sharp upward trajectory, potentially pushing prices past the $108,000 resistance. For more on this potential rebound, see our analysis in Bitcoin Rebounds as Markets Price in ‘Short-Lived’ Iran Conflict.
The crypto community remains divided. While some brace for further downturns, others hold onto the belief that Bitcoin’s resilience will eventually shine through. The coming weeks will be crucial, with many keeping a close watch on geopolitical developments and market reactions.
Historical Context and Future Projections
Bitcoin’s current predicament isn’t without precedent. The digital currency has weathered numerous storms in the past, only to emerge stronger each time. However, with the current geopolitical climate adding a layer of complexity, the path forward is anything but clear-cut.
For investors and traders, the question remains: will Bitcoin stabilize above the psychological $100,000 level, or are further declines inevitable? As Master Ananda puts it, “Do not be afraid if the market shakes, Bitcoin is going up; Crypto will grow, regardless of the short-term.” His words offer a note of reassurance, though they come with an implicit acknowledgment of the uncertainty that lies ahead.
The Broader Impact on the Crypto Market
As Bitcoin stumbles, the ripple effects are being felt across the broader cryptocurrency market. Altcoins, which often move in tandem with Bitcoin, have also experienced volatility. Ethereum, for instance, has seen fluctuations as investors navigate this tumultuous period.
Looking ahead, the market’s focus will likely remain on how global events continue to unfold. As the world grapples with geopolitical tensions and economic uncertainties, the crypto market’s reaction will be closely scrutinized. Will Bitcoin find its footing and lead a market recovery, or are we witnessing the beginning of a prolonged bearish phase?
In the ever-evolving world of cryptocurrency, one thing remains certain: volatility is a constant companion. Investors would do well to stay informed, remain vigilant, and perhaps buckle up for what could be a rocky ride ahead. The coming days will be telling, and the crypto community waits with bated breath to see which way the winds will blow.
Source
This article is based on: Bitcoin Price Crash Far From Over As Support Sits Below $90,000 – Details
Further Reading
Deepen your understanding with these related articles:
- Strategy adds $1B in Bitcoin as Israel-Iran conflict pressures markets
- Bitcoin Price Slips Below $100K, Hinting Oil-Led Risk-Off on Wall Street
- Crypto Daybook Americas: Bitcoin Holds Above $100K as Iran, Israel Trade Blows
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
