Bitcoin swings after Trump's tough statement on Iran

The price of Bitcoin is facing significant downward pressure in today's weekly closing session on June 22, as recent geopolitical tensions have clearly turned the sentiment of the crypto market negative.

BTC/USD chart timeframe | Source: TradingView## Panic sentiment spreads throughout the crypto market

Data from TradingView shows that the BTC/USD pair has fallen below the $102,000 threshold after U.S. President Donald Trump confirmed airstrikes targeting Iran's nuclear facility.

In a televised speech posted on the Truth Social platform, Mr. Trump declared:

"Iran must now choose the path of peace, or it will have to face further attacks."

Ahead of the new trading week on Wall Street – which is predicted to be highly volatile – traders have started considering potential support levels for BTC.

Among them, the famous trader Cas Abbe stated that a drop to the $93,000–$94,000 range could occur before a bottom is formed and a bullish reversal takes place. However, he also noted that the probability of BTC dropping below $90,000 is only around 20%–25%.

BTC/USD chart daily | Source: Cas Abbe/XAlong with Abbe, some other traders also relate to similar events in the past. Specifically, the announcement of retaliatory taxes by the US last April also caused BTC to plummet before making a strong rebound and reaching a new peak.

Trader Merlijn shares:

"In 2022, Bitcoin increased by 42% in just 35 days after the Ukraine war broke out, even during a period of 'recession'. Now it's 2025, and military tensions have flared up again. But the difference is that Bitcoin has now surpassed $100,000 and we are in a bull market. What if history repeats itself?"

Will the support zone at $97,000 stop the fall?

Although there are only a few hours left before the weekly candle closes, the price momentum of Bitcoin is clearly not enough. BTC is facing the risk of having the worst weekly close since the beginning of May.

Trader Crypto Tony commented:

"I still hold the Long position at $93,500, but it's important that the $104,500 level must be defended if the bulls want to maintain the upper hand."

BTC/USD weekly chart | Source: TradingViewPreviously, analysts shared that the $97,000 level could be the first strong support area, based on the liquidity in the order books of exchanges. In addition, data from the tracking platform CoinGlass also shows that this area is still playing an important role at the time of writing.

BTC liquidation heat map | Source: CoinGlassIf selling pressure continues to persist next week and BTC cannot hold the $97,000–$100,000 range, the crypto market may witness a deeper correction before finding a new bottom, or a recovery signal from the buying pressure amidst unstable geopolitical context.

Justin