Geopolitical jitters hit crypto: Bitcoin breaks $100k, Ethereum below $2.5k

Bitcoin (BTC) slipped below the psychological $100,000 mark for the first time in 45 days after the US military struck three nuclear sites in Iran, escalating the ongoing geopolitical conflict between Israel and Iran. The sudden escalation, analysts said, triggered widespread panic across the crypto market, resulting in over $1 billion in liquidations—primarily from overleveraged long positions.  The negative sentiment spilled over into the broader crypto space, putting pressure on major altcoins as well. Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, fell below the $2,500 mark, reflecting broader investor caution. Market analysts expect volatility in the crypto sector to persist amid heightened geopolitical risks and fragile investor sentiment.  Although Bitcoin has since rebounded from its intraday lows, it remains under pressure. Last check, BTC was trading at $101,536.97, down 1.26 per cent, with a 24-hour trading volume of $62.46 billion, according to CoinMarketCap. The cryptocurrency has fluctuated between $98,286.21 and $102,991.74 in the past 24 hours.

Experts weigh in

Riya Sehgal, research analyst, Delta Exchange, attributed the price drop to the US military strikes and said that the current bounce of Bitcoin remains weak. "Market structure shows a short-term downtrend with lower highs and lows; possible bear flag forming," said Sehgal.

 

Edul Patel, Co-founder and CEO of Mudrex, on the other hand, remains optimistic and said he believes that Bitcoin is on a recovery path, rebounding from weekend lows as broader markets attempt to regain footing following Middle East tensions. Positive signals, like Strategy hinting at fresh BTC accumulation and Texas passing the Strategic Bitcoin Reserve bill, Patel said, have helped sustain market sentiment. Notably, on-chain data shows long-term holders stepping in while short-term sellers retreat. 

 

"Historically, this kind of shift tends to happen near market bottoms, indicating a trend reversal in the market," said Patel.

 

At current levels, Bitcoin, Patel said, faces immediate resistance at $105,400, with strong support building around the $100,000 level. Meanwhile, for Bitcoin, Sehgal sees support at $98,000, next at $96,500–95,000, while resistance is placed at $102,200–103,000 levels.

Ethereum (ETH) finds support at $2,120 levels

Ethereum (ETH) too faced selling pressure, thus slipping below the key $2,500 mark and hitting $2,120. Last check, it was seen trading at $2,249.62, down 1.6 per cent, with a trading volume of $24.2 billion. Ethereum, Sehgal said, is consolidating in a bearish pennant and has underperformed Bitcoin.

 

At the current levels, the resistance for Ethereum, Sehgal said, is placed at $2,260–2,280, while support lies at $2,120, next at $2,050–2,000.

 

Altcoins, especially small caps and AI tokens, dropped 17–20 per cent this week. Despite a 9-day BTC ETF inflow streak, momentum, analysts said, remains weak.