Bitcoin Drops to $98,974 Before Recovering Above $101,000

Bitcoin temporarily dropped to $98,974 after US airstrikes on Iranian nuclear facilities, its lowest level since early May. By Monday morning, it rebounded to over $101,000 as traders assess the situation.

Arthur Hayes Comments on Market

Arthur Hayes, co-founder of BitMEX, views the downturn as a brief pause.
He predicts Bitcoin will reaffirm its status as a safe haven due to central banks' new money printing.
Hayes suggests that significant dips may present buying opportunities as liquidity increases.

Do you hear that? … it’s the sound of the money printers revving up to do their patriotic duty. This weakness shall pass and $BTC will leave no doubt as to its safe haven status.

— Arthur Hayes (@CryptoHayes) June 22, 2025

Market Reaction to Geopolitical Events

The initial price drop was triggered by US strikes on Iran.
Buyers quickly entered the market, pushing the price back above $101,000.
Altcoins experienced about a 1.4% decline, reducing total crypto market cap by $50 billion to $3.20 trillion.
Analysts expect altcoins may outperform if macroeconomic conditions improve.

Key Technical Levels

Short-term realized price at $98,000 serves as a potential support level.
Trend resistance is noted at $102,000, which has capped recent rallies.
Staying within the $98,000–$102,000 range may allow for quick upward movements.
A break below $98,000 could lead to increased selling pressure.