Crypto Collapse: Bitcoin Below $100,000 After US Attacks!

Crypto Collapse: Bitcoin Below $100,000 After US Attacks!

On Monday, June 23, 2025, the Bitcoin market experienced a dramatic decline as the cryptocurrency briefly fell below the $100,000 mark. This case was triggered by massive panic selling that occurred in the context of geopolitical tensions surrounding the recent US attacks on Iranian nuclear facilities. The CoinJournal reports that Bitcoin fell to an intraday low of $98,900 and over $1 billion in crypto market liquidations were recorded in just 24 hours.

The cause of the market volatility is the obvious geopolitical tensions. The U.S. military conducted “Operation Midnight Hammer,” which targeted Iranian nuclear facilities, including the controversial Fordow facility. These unexpected airstrikes, carried out with B-2 bombers and special surveillance weapons, led to a noticeable risk aversion in the digital asset markets. Analysts are watching the potential impact such geopolitical unrest could have on both cryptocurrency prices and global financial markets.

Market development and outlook

Amid these uncertainties, Bitcoin was back above $101,000 early Monday, marking a slight rebound after previously falling more than 4 percent to trade at $103,556. Ethereum was also affected, falling as much as 10 percent to lows of $2,150, as in Coinspeaker is mentioned. The overall crypto market cap experienced a decline, but was partially recovered as Bitcoin and Ethereum made small gains.

The panic selling in the crypto market was overwhelming: $901 million in long positions and $124 million in short positions were liquidated, driving liquidations up over 600 percent in just 24 hours. This shows how strong the market reaction was to the geopolitical events. The crypto market reacted differently; While some tokens, such as FARTCOIN (+14.2%), MKR (+14%) and SKY (+13.6%), recorded positive price developments, the overall picture was characterized by uncertainty.

Geopolitical tensions and markets

The geopolitical tensions are raising fears of a possible escalation in the Middle East, which will also have an impact on other markets. Oil prices rose by 13% to $77 per barrel and the price of gold exceeded $3,410 per ounce. S&P 500 futures fell 1.9%, indicating a risk-off attitude among investors. These developments have led to increased concerns about a major conflict between Israel and Iran, which is currently the focus of both nations.

Analysts like Pierre Rochard point out that BTC's decline is not necessarily due to weaknesses in the network or excessive leverage, but rather due to Bitcoin's high liquidity. However, it remains uncertain how the geopolitical tensions will affect the further price developments of cryptocurrencies.