Key points:
Bitcoin sees a snap reaction to news of direct US involvement in the Israel-Iran conflict, dipping below $102,000.
Traders note that war-based headlines have acted as a BTC price springboard in the past.
Price analysis suggests that a local bottom may coincide with order book liquidity at around $97,000.
Bitcoin (BTC) risked new month-to-date lows into the June 22 weekly close as geopolitical threats soured crypto sentiment.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
Bitcoin can still gain from war headlines — Traders
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling under $102,000 as US President Donald Trump confirmed strikes on nuclear facilities in Iran.
Iran, Trump said during a televised address uploaded to Truth Social, “must now make peace” or face additional strikes.
Ahead of what promised to be a volatile open to the Wall Street trading week, Bitcoin traders began considering potential BTC price bottom levels.
“A dump towards $93K-$94K before bottom formation and reversal,” popular trader Cas Abbe suggested, adding that the low $90,000 zone only had a “20%-25% chance” of being reached.
BTC/USD 1-day chart. Source: Cas Abbe/X
Abbe and others referenced events in April, when BTC/USD suffered following the announcement of reciprocal US trade tariffs before beginning a sustained rebound to new all-time highs.
The war is actually bullish…
2024:
Iran → Israel on April 13
Israel → Iran on April 19$BTC: –18% (first 2 weeks), +28% (next 1.5 months)
2024 (2):
Iran → Israel on October 1
Israel → Iran on October 26$BTC: –10% (1st week), +62% (next 2 months)
2025:
Israel → Iran… pic.twitter.com/Q6IRDlnZ1h
— Xremlin (@0x_gremlin) June 13, 2025
“In 2022, $BTC pumped +42% in 35 days after the Ukraine war began. That was deep in a bear market,” fellow trader Merlijn continued with another historical geopolitical comparison.
“Now it’s 2025. War fears rise again. But Bitcoin’s above $100K. And we’re still in a bull market. What happens if history repeats with more fuel?”
$97,000 BTC price support in play
With hours until the weekly close,…
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