Bitcoin Dips Below $101,000 as Geopolitical Risks and Technical Signals Weigh on Crypto

Bitcoin traded near $100,850 on June 23, 2025, after a volatile weekend marked by sharp losses and heavy selling. Official price data from CryptoCompare and CoinGecko show Bitcoin fell 0.67% from the previous day.

The broader crypto market mirrored Bitcoin’s decline. The global cryptocurrency market capitalization fell 6.2% to $3.16 trillion over the past 24 hours, as investors moved capital into safer assets amid heightened geopolitical risk.

Ether, the second-largest cryptocurrency, dropped 8.5% to $2,199. Other major tokens such as XRP and Solana also posted losses, while a handful of small-cap altcoins bucked the trend with double-digit gains.

Macroeconomic factors amplified the sell-off. Rising tensions between the U.S. and Iran pushed oil prices higher and increased the likelihood of central bank rate hikes.

These developments reduced risk appetite and prompted investors to seek shelter in the U.S. dollar and gold. The crypto market’s reaction underscores its sensitivity to global events and its status as a risk asset during times of crisis.

Bitcoin Technical Analysis

Technical analysis of the Bitcoin charts confirms the bearish tone. On the daily and four-hour timeframes, Bitcoin trades below all major moving averages, including the 20, 50, 100, and 200-period EMAs.

This alignment forms a bearish cluster, indicating that sellers control the short-term trend. The Relative Strength Index (RSI) hovers near 40 on the daily chart and below 44 on the four-hour chart, signaling weak momentum and the absence of a bullish reversal.

The Moving Average Convergence Divergence (MACD) remains negative on both timeframes, confirming sustained downward pressure. Bollinger Bands on the four-hour chart reveal that Bitcoin bounced from the lower band after testing support near $99,200.

However, the price faces resistance at the 38.2% Fibonacci retracement level around $102,748. The 100-period moving average remains below the 200-period average, reinforcing the bearish outlook.

If Bitcoin fails to reclaim the $103,000 to $105,000 zone, sellers may target the $98,000 support cluster ahead of the June 27 options expiry. Market participants remain cautious as uncertainty persists.

The current environment favors defensive positioning, with traders watching for further geopolitical developments and macroeconomic shifts. Until Bitcoin reclaims key resistance levels and momentum indicators turn positive, the risk of further downside remains elevated.

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