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Tensions in the Middle East have once again spilled into the crypto market. Bitcoin reacted quickly after former U.S. President Donald Trump confirmed that the United States carried out strikes on Iranian nuclear facilities. Following the announcement, Bitcoin slipped below $100,000, dropping to just under $98,500 as per CoinMarketCap data before recovering slightly.
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Although Bitcoin managed to crawl back above the $100,000 mark, the quick dip reminded traders that geopolitical news can spark sharp reactions in the market. Historically, similar conflicts have led to short-term drops in price, followed by strong recoveries.
Some traders believe this pattern could repeat. When the Ukraine conflict began in 2022, Bitcoin jumped more than 40% over the next month. That was during a bear market. Now in 2025, with Bitcoin still in a broader bull cycle, some think history might echo—this time with more momentum.
Others are watching price levels more cautiously. If the price breaks below the $97,000 support range, some traders expect the next strong area of demand to show up around $93,000 to $94,000. However, many consider a dip that far to be less likely, with only a small chance of seeing those levels unless tensions escalate further.
Liquidity charts show that the $104,500 level remains key for bullish sentiment. If Bitcoin can close the week above that range, confidence may return quickly. On the other hand, falling short of that could lead to further hesitation among buyers. At time of writing Bitcoin is trading at $100,400 and it does look like some recovery is ongoing.