Bitcoin Recovers Above $100K After Brief Drop Amid Geopolitical Tensions

Bitcoin dipped below $100,000, reaching around $98,200 due to geopolitical tensions following US military strikes on Iranian nuclear facilities. This led to panic selling in crypto markets. Bitcoin has since reclaimed the $100K mark, but investor sentiment is cautious.

Key points include:

Bitcoin must hold the daily EMA-100 to prevent further declines.
A close below $99,000 may trigger a drop to the $92,000–$94,000 range.
Investor focus is on the $100K zone as a critical battleground.
Bitcoin dominance remains high, reflecting preference for BTC amid market uncertainty.
On-chain metrics show strong holder conviction despite volatility.

The 12-hour chart indicates a bearish structure after breaking below $103,600. If Bitcoin fails to reclaim this level, it could face further downside toward $95,000 or even $92,000. Current trading is below both the 50 and 100-period moving averages, with increasing volume confirming active selling.

Bulls need to overcome resistance at $103,600 to regain control; failure to do so may lead to continued bearish momentum.