Bitcoin Price Drops Below $100K Amid Middle East Tensions

Bitcoin's price dropped below $100,000 due to intensified selling pressure linked to geopolitical tensions in the Middle East. Former BitMEX CEO Arthur Hayes views this as a buy-the-dip moment, asserting that the decline is temporary. Currently, Bitcoin has rebounded to $102,000.

Key Points

Bitcoin fell below $100,000 for the first time in over six weeks amid risk-off sentiment following US airstrikes on Iranian nuclear facilities.
Arthur Hayes believes Bitcoin’s current weakness will pass, predicting it will reaffirm its safe haven status with increased central bank money printing.
Despite recent inflows into spot Bitcoin ETFs, BTC has been consolidating after facing rejection at $110,000.
Analysts predict a potential upward movement if Bitcoin breaks the $102,500 resistance level.
Michael Saylor from MicroStrategy anticipates Bitcoin could reach $21 million by 2046.
Rekt Capital forecasts an increase in Bitcoin dominance (BTC.D), suggesting a delay in altcoin season.