As of June 23, 2025, Bitcoin costs about $101,500. This is a small drop of less than 1% from the day before. Today, Bitcoin’s price went as low as $98,460 and as high as $102,782.
Bitcoin fell below $100,000 for a short time, which made some people worried. Again, it goes back above $101,000 quickly. This shows that some buyers are still interested.
Experts are watching important levels. Bitcoin may face resistance near $105,000 and find support near $100,000. Big events like the Fed’s news and option expiries on June 27 could change the price. Either Bitcoin goes to a $92k dip or jump to $1,12,000.
Bitcoin Drops to $98,143 in Weekend Sell-Off
Bitcoin fell to $98,143 on Saturday, June 22. It dropped 11.7% from its recent high of $110,495, reached ten days earlier. In 24 hours, the crypto market saw over $700 million in liquidations. About $283 million of these came from long positions.
The total crypto market cap has dropped from $3.44 trillion to $2.97 trillion. That’s a loss of around $320 billion in just a few days. Bitcoin’s market cap dropped by almost $100 billion, from $2.13 trillion to $2.01 trillion. This happened due to rising political tension in the Middle East.
U.S.–Iran Conflict Causes Brief Market Panic
On June 21, the U.S. launched airstrikes in Iran. They targeted Iranian-backed groups. This raised the fear of a wider Middle East conflict. This short war has several impacts on the economy. Oil prices suddenly increased from $64.34 to $77.50 within 3 days. Also, Gold rose to $3,448 per ounce, which is a 4.2% gain.
The U.S. Dollar Index went up from $97.143 to $98.963. This showed that investors were moving to safe assets. Bitcoin dropped by around $3,500 in the first 8 hours. But markets calmed down by Sunday morning. Traders now see this as a short-term event. By June 23, Bitcoin recovered to $1,02,292.
97% of Short-Term Holders Are in Loss
Glassnode says 97% of short-term Bitcoin holders are now in loss. These wallets bought Bitcoin in the last 155 days. Their average buying price was near $95,125. When Bitcoin falls below this level, many of them may sell to cut losses. This price level acts as soft support.
If it stays low for too long, panic selling may increase. Long-term holders are in a better position. They have held Bitcoin for more than 365 days. They now hold 69.1% of all Bitcoin. Their average cost is about $44,800, so they are still in profit. Most of them are not selling.
Fed Watch: Rate Decisions and Inflation Data
This week, two big events from the U.S. Federal Reserve may affect Bitcoin. On June 25, Fed Chair Jerome Powell will speak to Congress. On June 27, the Fed will release the PCE index, which shows inflation. In May, core PCE was 2.8%, higher than the Fed’s goal of 2%.
If June’s number is higher, the market may fear more rate hikes. The current interest rate is 5.25% to 5.50%, the highest since 2001. If the Fed gives a strong signal, Bitcoin could fall below $92,000. A soft or friendly signal could help Bitcoin rise above $98,000.