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Bitcoin Plunges Below $100K: Time to Buy the Dip?

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Bitcoin slid below the symbolic $100,000 threshold for the first time since May, while Ether also dropped sharply, following news that U.S. bombers had targeted Iran’s key nuclear facilities, as quoted on Bloomberg. The sudden escalation in geopolitical tension prompted a wave of risk-off sentiment in the cryptocurrency markets over the weekend.

Crypto Market Hit by Risk Aversion

As of 12:05 P.M. in New York on June 22, Bitcoin fell as much as 3.8% to $98,904. Ether, the second-largest digital asset, plunged up to 10% to approximately $2,157 — its lowest intraday price since May 8. The broader crypto market was rattled by the surprise military action.

Trump Confirms Strikes on Iranian Nuclear Sites

U.S. President Donald Trump announced that airstrikes had been carried out on Iran’s major nuclear facilities at Fordow, Natanz, and Isfahan. He specifically said that a “payload of BOMBS” dropped on Fordow, a site central to uranium enrichment and long viewed by international observers as a potential node for nuclear weapons development.

Investor Sentiment Dampened by Geopolitical Risks

“Markets are nervously eying ongoing geopolitical developments,” said Caroline Mauron, co-founder of Orbit Markets, a firm specializing in crypto derivatives. According to her, traders will closely watch oil markets when traditional exchanges reopen, as quoted on Bloomberg.

Time to Buy the Dip in Bitcoin?

Over the past 24 hours, crypto liquidations exceeded $1 billion. Data from Coinglass shows that about $915 million in long positions and $109 million in short positions were wiped out.

Despite the turbulence, Cosmo Jiang, general partner at Pantera Capital Management expressed cautious optimism: “Bitcoin tends to lead the market out of a bounce during times of geopolitical uncertainty,” he said, hinting at a potential rebound once tensions stabilize, as quoted on Bloomberg.

Bitcoin Mining Boosts AI Infrastructure

Bitcoin has started to show its relevance in the AI infrastructure. As artificial intelligence (AI) reshaped the digital economy, high-performance computing has proved essential to meeting the surging demand for computational power. Bitfarms, a Bitcoin mining company, is positioning itself at the intersection of AI and energy infrastructure.

As AI continues its relentless expansion, companies like Bitfarms are uniquely positioned to meet the demand, not just with physical infrastructure, but with an understanding of energy-intensive computing (read: Crypto ETFs in Focus as Bitcoin Mining Boosts AI Infrastructure).

ETFs in Focus

iShares Bitcoin Trust ETF (IBIT - Free Report) , Fidelity Wise Origin Bitcoin Fund (FBTC - Free Report) and First Trust SkyBridge Crypto Ind and Digi Econ ETF (CRPT - Free Report) are some of the exchange-traded funds (ETFs) that come under the spotlight against the above developments.

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