Bitcoin briefly slid to $98,974 late on Sunday after US airstrikes targeted Iranian nuclear facilities. That was its weakest point since early May.
But by Monday morning in Asia, the leading cryptocurrency topped $101,000 again. Traders are weighing whether this was just a hiccup or the start of a fresh trend.
According to Arthur Hayes, co-founder of BitMEX, the fall is only a short pause. On X, he wrote that “weakness shall pass” and predicted Bitcoin will “leave no doubt as to its safe haven status.”
He said fresh money printing by central banks will be the main force driving prices back up. His view suggests that big dips can turn into buying chances when broader liquidity is rising.
Do you hear that? … it’s the sound of the money printers revving up to do their patriotic duty. This weakness shall pass and $BTC will leave no doubt as to its safe haven status. pic.twitter.com/PTfZaAXFp7
— Arthur Hayes (@CryptoHayes) June 22, 2025
Based on reports, it was US strikes on Iran that triggered the initial slide. The price drop happened late Sunday, pushing Bitcoin below six figures for the first time since early May.
Yet buyers stepped in quickly, snapping up coins and lifting the price back above $101,000 during the first hours of trading in Asia. That pattern shows how headline shocks can spark fast moves, but also how quickly sentiment can flip.
Altcoins Take A Hit
Meanwhile, over the past 12 hours, most altcoins fell about 1.4%, dragging total crypto market cap down by roughly $50 billion to $3.20 trillion, according to data. Experts expect that trend to reverse once major headlines calm down.
Market analysts pointed out that altcoins might start to outperform if macro risks ease. They said smaller tokens are already showing signs of strength, even as Bitcoin stalls.
Key Technical Levels Hold
Traders are watching two key lines: the short-term realized price at $98,000 and the trend support at $102,000. The realized price reflects the average breakeven point for holders, so it often acts like a floor.
The $102,000 has capped rallies over the past weeks. As long as Bitcoin stays in that $98,000–$102,000 range, there are chances for quick rallies. But a break below $98,000 could force more focus on cutting losses.
Featured image from Imagen, chart from TradingView
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