BTC approaches $102k after dipping below $99k

Cryptowisser · 2025-06-23T07:48:38+00:00

Bitcoin dropped to $98,400 amid escalating Middle East tensions but has since recovered to $101,854. Traders lost nearly $1 billion due to market volatility, as altcoins also faced significant losses before bouncing back.

Cryptowisser

2025-06-23 07:48:38

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TL;DR

BTC dropped to the $98k region on Sunday as the Middle East crisis escalated.
Traders lost nearly $1 billion in the last 24 hours due to price volatility.

BTC Dips to $98k, Recovers to $101k

The cryptocurrency market’s performance over the last 24 hours was a rollercoaster. Bitcoin, the number one crypto by market cap, was extremely bearish over the weekend, dropping to a low of $98,400 on Sunday before embarking on its recovery.

It has recovered nicely and now trades at $101,854 per coin. If the bulls continue to push higher, BTC could be trading above the $102k level soon.

The bearish performance came after the United States announced it had conducted three military strikes on Iranian nuclear sites. This resulted in over $1 billion in daily liquidations, with Bitcoin dropping below $100k for the first time in 45 days.

In retaliation, Iran’s parliament indicated Sunday it may close off the Strait of Hormuz, a crucial choke point for the global oil trade.

Altcoins also suffered huge losses on Sunday, but most of them have recovered. ETH is trading above $2,250 again after dropping to the $2,100 level over the weekend. Ripple’s XRP dropped below $2 for the first time in nearly two months but now trades at $2.01 per coin.

The total cryptocurrency market cap now stands at $3.12 trillion, down 1% in the last 24 hours.

BTC1,47%

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