Bitcoin Dives Under $100,000! Liquidation Rises to High Levels
2025-06-23
Bitcoin has fallen below the critical $100,000 mark, sending shockwaves across the crypto community and triggering massive liquidations.
The sudden price drop reflects rising investor anxiety amid global tensions, prompting many to reassess their positions in the digital asset market.
As traders scramble to manage losses, over $200 million has been liquidated in a single day, underscoring the volatility that still defines this maturing market.
Over $200 Million in Bitcoin Liquidated
According to data from Coinalyze retrieved by Finbold on June 22, Bitcoin recorded $209.1 million in total liquidations within a 24-hour period.
This sharp increase was primarily driven by long positions, which accounted for approximately $184 million. In contrast, short liquidations stood at around $25 million.
The majority of these liquidations, over $206.8 million, were linked to perpetual contracts, while futures contracts added $2.4 million more to the total. These figures reflect activity across several major exchanges, including Binance, Bybit, OKX, Bitfinex, Huobi, and BitMEX.
Price Analysis: Below $100,000 but Still Structurally Bullish?
At press time, Bitcoin was trading at $99,046, down 4 percent in the last 24 hours and over 5 percent for the week. The psychological barrier of $100,000 appears to have acted as a tipping point, intensifying selling pressure across the market.
Technical indicators offer a mixed outlook. Bitcoin is currently trading below its 50-day simple moving average (SMA) of $104,908, a level often viewed as short-term support. However, it remains above the 200-day SMA of $87,554, indicating a longer-term bullish trend might still be intact.
The 14-day Relative Strength Index (RSI) stands at 42.15, suggesting neutral to slightly oversold conditions. This points to weaker buying pressure but also potential room for a rebound if Bitcoin can establish new support around the current levels.
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Expert Insight: A Possible Capitulation Phase?
Analysts are closely monitoring the current price action. Michaël van de Poppe, a well-known cryptocurrency trader, described the situation as a “capitulation phase” in a recent post on X.
He believes the market is approaching a significant support area and that how Bitcoin reacts here could shape its direction for weeks to come.
A strong bounce could trigger renewed buying interest, potentially reversing the current downtrend. However, if Bitcoin fails to hold above the $95,000 to $98,000 zone, it may open the door to deeper declines.
Some forecasts even suggest a possible retreat to $80,000 in the coming months if selling continues.
Geopolitical Tensions Weigh on Market Sentiment
Beyond market dynamics, external factors are also playing a role in the recent downturn. The global financial landscape was rattled by news that the United States has joined an active military engagement involving Israel and Iran.
Reports confirmed that American forces launched airstrikes on three Iranian nuclear facilities following a statement by former President Donald Trump.
This escalation has had a ripple effect on traditional financial markets and digital assets alike. Investors often view Bitcoin as a risk-on asset, meaning its price is sensitive to global uncertainty and market volatility.
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FAQ
What caused Bitcoin to drop below $100,000?
The recent drop was triggered by a combination of heavy sell-offs, long position liquidations, and geopolitical tensions involving the U.S., Israel, and Iran.
How much was liquidated during this price drop?
Over $209 million in Bitcoin positions were liquidated within a 24-hour period, with most of the losses coming from long trades.
Is this the end of Bitcoin’s bullish trend?
Not necessarily. While short-term technicals show weakness, Bitcoin remains above its 200-day moving average, suggesting that long-term upward momentum is still possible.
What is the current market sentiment?
Market sentiment is cautious. Traders are closely watching support levels, and many are concerned about continued volatility tied to global events.
Could Bitcoin fall further?
Yes, analysts warn that if Bitcoin fails to hold support near $98,000 or lower, the price could decline to around $80,000 in the near term.
Is now a good time to invest in Bitcoin?
This depends on individual risk tolerance and investment goals. Investors should consider current volatility, market conditions, and long-term trends before making decisions.
Disclaimer: The content of this article does not constitute financial or investment advice.
