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Bitcoin is just above the key $104,000 level after enduring several days of sales pressure caused by escalating tensions in the Middle East. Recent attacks between Israel and Iran have injected new volatility into financial markets, but BTC has shown significant resilience. Currently, as macroeconomic uncertainty persists, Bitcoin, which has dropped by about 5% from its all-time high of $112K, continues to trade within the broader integration range.
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Despite geopolitical instability and rising bond yields, Bitcoin structure remains bullish, with the Bulls defending a major support zone. According to top analyst Ari Martinez, the $104,124 level is a critical threshold to look at. He emphasizes that this level coincides with a strong cluster of unused transaction outputs (UTXOS) based on realized price distribution metrics. This suggests a concentration of buyers who have acquired BTC in or near this range, and could enhance it as a solid support base.
Above this level, you can mark a turning point and pave the way for another push to price discovery. However, the breakdown below this zone may trigger a Deeper correction Towards a decline in demand levels. For now, all eyes remain in Bitcoin’s response to this critical level as global risk continues to evolve.
Bitcoin holds a line of over $10,000 amid geopolitical risk
Bitcoin has shown remarkable resilience amid the global turmoil and has held it above $100,000 despite growing uncertainty associated with the escalation of tensions in the Middle East. As the market heads for Monday, investors are preparing for potentially unstable sessions in response to further developments between Israel and Iran. A sharp rise in oil prices could add macro pressure, and this week’s start will be a critical moment for risky assets.
BTC continues to trade within the combined range after a 5% drop from an all-time high of $112,000. Analysts widely agree that Bitcoin is in the transition phase. Prepare for explosive breakouts for price discovery or set up a deeper retracement stage. Many believe that confirmed breakouts above $112K could potentially raise the next major leg, marking the beginning of a new expansion cycle across the crypto market.
However, at the current level, caution is important. Martinez pointed out Key-on-chain data We have achieved price distribution from UTXO, identifying $104,124 as an important support zone. This price level is where a large amount of BTC last moved, suggesting the interest of strong buyers. If BTC holds this level, it may form a solid base for continuity. However, if it breaks down, the next area of interest is around $97,405, causing wider fear across the market.
In the coming days, geopolitical news and macroeconomic signals, especially Bitcoin’s response to oil price movements and bond yield reactions, will be important. For now, the Bulls are still in control, but the path ahead requires extreme caution and calculated positioning.
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BTC Price Analysis: Bulls protect key support
Bitcoin is currently trading at $105,502, showing signs of strength after defending its support level of $103,600. This price range has served as a consistent floor for the past week and remains a key pivot in the short-term market structure. After a sudden drop from $112,000 in height, BTC bounced this support back with a large amount of strong wicks, signaling buyer interest, and potential short-term bottoms.
The chart shows that Bitcoin is consolidated between $103,600 and $109,300, with SMAs in the 50, 100 and 200th periods converging just above current prices, indicating that the decision point is close. A clear break above $106,800 could trigger momentum and test $109,300 again, but failing to exceed $104,500 puts BTC at a negative side risk.
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Compared to the declining spikes on June 13th, volume remains relatively restricted, suggesting that most of the panic sales have been cooled for now. However, the price is below 200 SMA. This reinforces the Bulls have to regain this zone to see continuity.
Dall-E special images, TradingView chart
