- Bitcoin holds firm at $100K, playing defense amid rising macro tensions.
- Can BTC maintain support as geopolitical risks escalate?
Macro stress is back in focus after the U.S. targeted two of Iran’s nuclear sites.
Bitcoin [BTC] reacted with a 1.17% drop, hitting $100,979 before a $50 million short squeeze reversed the move.
Despite the bounce, though, price action remains fragile. Two key liquidity grabs are now in play, with bulls targeting the $103,500 zone as a springboard toward the $105K resistance.
But with Donald Trump signaling “force far greater” if Iran retaliates, global uncertainty is peaking.
So, will this liquidity sweep extend, or is $100K support running out of time?
Bitcoin goes on the defensive as macro tensions rise
The timing couldn’t have been more market-friendly.
The U.S. strikes landed overnight on a weekend, sparing equities from a full-blown panic.
But crypto wasn’t as lucky. Over $711 million in leveraged positions were liquidated across exchanges, per CoinGlass.
Bitcoin took a 1.17% hit, but this wasn’t the worst drawdown of June. Earlier this month, a sharp 3% drop sent BTC tumbling to $100,424 as long liquidations exploded.
This time, however, BTC swept a $50.8 million liquidity cluster at $100,910, flushing out late shorts.
The result? A sharp 2.4% bounce off support, reinforcing the strength of the bid-side wall and keeping $100k intact, at least for now.
Source: TradingView (BTC/USDT)
That makes this the second time Bitcoin has tapped $100k support in June.
The first bounce proved decisive – BTC ripped nearly 10% in under a week, reclaiming the $110k supply zone and flipping key short-term resistance.
But pulling that off again might be tougher.
For now, BTC looks set to consolidate in a tight range as traders de-risk and recalibrate exposure around this critical psychological level.
BTC awaits trader recalibration to set direction
Post-macro FUD market dynamics are critical.
Shorts are circling, hunting for structural breakdowns, evident as Bitcoin Funding Rates flipped negative, mirroring early June’s breakdown.
Source: CoinGlass
This shows a bearish bias in the perpetual markets. Traders are paying to hold shorts while price teeters around $102.4K, making room for either capitulation or rebound.
Meanwhile, the 12-hour liquidation heatmap highlights a massive $62.63 million long cluster on the brink if BTC retests $101,502, keeping the $100k breakdown risk firmly in play.
However, with bulls firmly defending the $100k structural support despite significant macro headwinds, the probability favors their hold.
According to AMBCrypto, this systematic absorption of liquidity suggests a higher likelihood of an early-June style rebound, signaling resilience amid heightened volatility.
