Bitcoin briefly fell below the $100,000 threshold for the first time in over six weeks following U.S. military strikes on Iranian nuclear sites—an escalation that triggered turbulence in global markets and over $1 billion in crypto liquidations.
The leading cryptocurrency dropped to $98,500 late Sunday before recovering to above $101,000 by Monday morning in Asian trading. BitMEX co-founder Arthur Hayes responded with calm optimism, stating in an X post that the current “weakness shall pass,” reaffirming his view of Bitcoin as a long-term safe haven.
Hayes argued that renewed central bank stimulus and increased liquidity will ultimately boost Bitcoin’s appeal as a macro hedge.
Bitcoin in Holding Pattern, Says 10x Research
Market momentum remains weak as Bitcoin struggles to hold above the six-figure mark. Analysts at 10x Research say price action is likely to remain range-bound unless a new bullish catalyst emerges.
Markus Thielen, the firm’s head of research, noted that the $98,000 to $102,000 range is now acting as near-term tactical support. A drop below this range could prompt more risk-off behavior among traders.
Bitcoin has failed to break above $110,000 multiple times in recent weeks, with macro shocks—such as U.S. tariff escalation in May and Middle East tensions in June—undermining bullish attempts.
“These events have underscored that Bitcoin is not behaving as a risk-off hedge in the current environment,” Thielen observed.
Without a fresh catalyst, he expects summer trading to remain subdued.
In a recent episode of The CoinRock Show, host Matthias Mazur offered a broader perspective:
“If you told anyone in the 2022 bear market that we’d be facing a near-hot war in 2025 and Bitcoin would still be above $100K, they’d sign up in a heartbeat,” he said.
Matthias discussed the psychological toll of geopolitical fear and media noise, encouraging listeners to “mute what doesn’t serve you.” He also emphasized that, beneath the surface, builders and institutional players continue to drive adoption and innovation.
“Despite the noise,” he said,
“The builders aren’t sleeping. Institutional players are still moving. The market is holding.”
Volatility Remains Part of Bitcoin’s Growth Story
Industry analysts agree that Bitcoin’s recent dip is not unusual. Corrections of 20–30% have historically been part of healthy bull markets, often paving the way for renewed upside.
Firms like CryptoQuant and Glassnode point to resilient on-chain metrics, with no signs of long-term structural breakdown. In their view, the fundamentals remain strong—even if the market is currently digesting a wave of geopolitical and macroeconomic uncertainty.
Quick Facts
- Bitcoin briefly fell below $100K amid U.S.–Iran tensions
- Arthur Hayes believes the dip is temporary and liquidity-driven
- Analysts expect sideways action without a clear new catalyst
- Bitcoin fundamentals remain strong despite short-term volatility
