BTC Dominance Soars to New Highs as Middle East Tensions Explode — Altcoins Crumble Under Pressure!

Jakarta, Pintu News – Bitcoin has officially lost its support level at $103,600 after a surprising geopolitical development.

The United States military reportedly launched an attack on Iran’s nuclear facilities, which triggered widespread panic and risk-off behavior in the financial markets. The crypto world did not become an exception.

BTC Dominance (BTC.D) Is Surpassing Previous Highs

According to Bitcoinist (22/6), Bitcoin, which had previously held above important support levels for several weeks, experienced a sharp decline as fear took hold of traders and investors.

Read also: Bitcoin Dips to $101K — But Holders Stay Strong as Peak Warning Signs Flash!

This weakness marks a change in market sentiment. The bulls have lost control of the short-term momentum, and the broader market is now bracing for a possible drop below the psychologically important $100,000 level.

With no signs of recovery in the near future, selling pressure may continue unless strong demand emerges in the lower price area.

Leading analyst, Carl Runefelt, points out that Bitcoin Dominance (BTC.D) has just surpassed its previous high. This shows that although Bitcoin is on the decline, the pressure on altcoins is even greater.

The concentration of capital into Bitcoin could be interpreted as a move towards finding a relative “safe haven” in the crypto ecosystem, but it also highlights the increased uncertainty and decreased trust in higher risk tokens.

Bitcoin Faces Crucial Test as It Hovers Around $100,000

Bitcoin is at a critical juncture right now, as the price approaches a potential drop below the psychological $100,000 level. After weeks of holding above that mark, the market is starting to show signs of fatigue.

However, despite the increased selling pressure, the bulls were still able to hold the $100,000 threshold for a while, which hints at the possibility of a new support level forming.

If the price is able to hold consistently above this point, then a sharp recovery could occur, and momentum towards the previous high could potentially return.

However, the macroeconomic backdrop remains highly volatile. Rising US Treasury yields continue to tighten liquidity conditions, while the Federal Reserve ‘s decision to keep interest rates on hold also adds to the uncertainty.

At the same time, simmering conflicts in the Middle East-including the latest US attack on Iran’s nuclear facilities-have sparked fear in global markets. Historically, Bitcoin’s response to geopolitical risks has been mixed: at times a safe haven, at other times dragged down by risk aversion in the broader market.

Adding to the complexity of the situation, Carl Runefelt recently noted that Bitcoin Dominance has broken its previous high. This suggests that capital flows are now concentrated on Bitcoin, while altcoins are experiencing heavier selling pressure.

This shift reflects the increasing caution in the market, with investors preferring relative safety over speculative risk.

Whether this capital rotation will trigger further gains for Bitcoin, or mark the beginning of a broader downward trend, remains to be seen over the next few days.

Read also: XRP on the Edge: Can Ripple Smash Through the $2.35 Barrier? Key Levels You Need to Watch!

Currently, Bitcoin has been trading above the $100,000 level since early June, indicating an attempt by the price to stabilize itself in that range. However, the failure to re-break the all-time high around $112,000 is still an obstacle to the bullish momentum.

If the bears manage to push the price down below $100,000, then the next support area is likely to emerge in the range of $94,000-$95,000.

BTC Price Analysis: Bulls Maintain Crucial Support

As of June 22, Bitcoin is trading at $102,506, just slightly above the key support zone at $100,000. The chart shows that BTC has failed to break the resistance level at $109,300 several times, leading to a gradual decline and increased selling pressure.

The $103.600 area-which previously served as support-has nowbeen broken to the downside, confirming the weak near-term bullish momentum.

On the 3-day chart, the price is still above all major moving averages, including the 50, 100, and 200 SMAs, signaling that the macro trend is still maintained. However, trading volumes continue to decline as the price consolidates, reflecting the hesitation of market participants.

A decisive move-whether it’s a bounce off $100,000 or a break below it-will likely determine the direction of Bitcoin’s next trend.

The current price action indicates that BTC is forming a new local range between $100,000 and $109,000. If the bulls manage to hold $100,000 and push the price back above $103,600 in the coming sessions, then a retest of the upper limit of the range could happen.

Conversely, if there is a sustained drop below $100,000, then a sharper correction to the $95,000 or even $92,000 range in the short term could be in store. Market watchers are now closely monitoring these levels as tensions between bulls and bears rise.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Bitcoinist. Bitcoin Dominance Breaks Previous High As MidEast Conflict Escalates – Altcoins Under Pressure. Accessed on June 23, 2025