Bitcoin Price Dips Below $103,000 Amid Global Tensions

Bitcoin (BTC) prices declined nearly 5% over the last 48 hours, dropping below $103,000 amid escalating global tensions following an Israeli airstrike on Iran. Prices later rebounded to around $105,000.

$100,000 Support Key To Bitcoin Bull Challenge

Analyst Ali Martinez highlighted that Bitcoin must maintain a support level above $100,000 to avoid significant corrections. His technical analysis indicates that:

Bitcoin has traded between $78,500 and $110,000 over the past six months.
The price has tested the upper boundary five times and the lower boundary four times.
A close below $100,000 could lead to a potential drop to $78,500, representing a 25% loss.
Staying above $100,000 supports bullish momentum and may trigger a retest of the $110,000 resistance zone.
Support levels at $92,000 and $86,000 could provide opportunities for Bitcoin bulls if prices dip below $100,000.

BTC Price Overview

Currently, Bitcoin is trading at $105,194, marking a 1.79% decline in the last 24 hours. Daily trading volume increased by 37.04%, reflecting heightened market activity. Bitcoin's market cap stands at $2.07 trillion, maintaining a dominance of 62.75% in the crypto market.