Bitcoin Braces for $100K Retest as $1B in Liquidations Roil Markets Amid Middle East Crisis
Bitcoin''s bull run faces a critical stress test as geopolitical turmoil triggers a $1 billion liquidation bloodbath. The king of crypto now teeters on the edge of a $100,000 retest—will institutional buyers step in or flee for stablecoin bunkers?
The liquidation carnage
Overleveraged longs got steamrolled as Middle East tensions sparked a classic risk-off pivot. The $1 billion flushout marks the largest single-day deleveraging event since the 2024 halving rally began.
Technical crossroads
BTC''s chart paints a make-or-break scenario: hold $95K support and maintain the uptrend, or break down toward the $85K liquidity zone. Trading desks report frantic options hedging as volatility spikes.
Institutional poker face
While retail traders panic, whale wallets show suspicious calm. On-chain data reveals accumulation at these levels—because nothing says ''safe haven'' like buying the dip during potential WW3 scenarios (thanks for the liquidity, plebs).
The closer: This is why we can''t have nice things. Just when crypto starts behaving like a real asset class, geopolitics reminds everyone it''s still the casino''s problem child.
Bitcoin Price Chart
Recent candles show lower price rejections, indicating that Bitcoin is struggling to hold above the critical trendline. BTC risks retesting the $101,763 support level, raising the probability of a drop toward the psychological $100,000 mark.
As bearish pressure builds, the MACD and signal lines have moved into negative territory, accompanied by a surge in bearish histogram bars on the daily chart. Thus, momentum indicators reveal a bearish bias, increasing the likelihood of a trendline breakdown.
However, a potential Morning Star pattern forming near critical support could trigger a bullish reversal, possibly pushing the price up to test the 100 EMA at $106,402.
Bitcoin Derivatives
In the derivatives market, trader interest in Bitcoin has declined significantly. Open interest has dropped by 4.18% to $69.81 billion. With this decline, bullish sentiment has weakened, as the OI-weighted funding rate has fallen to 0.0019% from a peak of 0.0082% on June 12.
This sudden shift coincides with $422 million in long liquidations over the past 24 hours, compared to just $21 million in short liquidations. Meanwhile, in the broader market, liquidations have surpassed $1.15 billion.
As a result, the long-to-short ratio has fallen to 0.9223, indicating a bearish tilt in open positions.
