Bitcoin Steady Amid Middle East Conflict Fears
Posted: Tue Jun 17, 2025 6:44 am
Bitcoin is currently consolidating around the $106,000–$107,000 range, a critical support zone characterized by the 0.618 Fib retracement, the Point of Control, and the lower edge of a bullish channel.
The recent situation involves President Trump cutting short his G7 summit to consult on the Iran–Israel conflict, triggering a 2% drop, or roughly $2,000, in Bitcoin’s price. However, the price recovery above $107,000 suggests institutional accumulation remains active, reinforced by spot ETF inflows and corporate buying.
On the charts, BTC appears to be forming a rounded bottom, a technical structure often preceding a breakout. Moreover, declining volume during this consolidation phase may signal accumulation by larger players, a healthy sign ahead of any upward moves . Upcoming catalysts include the Federal Reserve rate decision, ongoing spot ETF activity, and the volatility tied to Middle East dynamics.
For traders, the key level to watch is whether BTC can break above $108,500–$109,000 with an accompanying spike in volume. Alternatively, a breakdown beneath $106,000 could retest support nearer to $104,000 or $103,000.
Discussion Questions:
Do you expect Bitcoin's current consolidation to result in a new breakout, or is a test of lower support more likely?
The recent situation involves President Trump cutting short his G7 summit to consult on the Iran–Israel conflict, triggering a 2% drop, or roughly $2,000, in Bitcoin’s price. However, the price recovery above $107,000 suggests institutional accumulation remains active, reinforced by spot ETF inflows and corporate buying.
On the charts, BTC appears to be forming a rounded bottom, a technical structure often preceding a breakout. Moreover, declining volume during this consolidation phase may signal accumulation by larger players, a healthy sign ahead of any upward moves . Upcoming catalysts include the Federal Reserve rate decision, ongoing spot ETF activity, and the volatility tied to Middle East dynamics.
For traders, the key level to watch is whether BTC can break above $108,500–$109,000 with an accompanying spike in volume. Alternatively, a breakdown beneath $106,000 could retest support nearer to $104,000 or $103,000.
Discussion Questions:
Do you expect Bitcoin's current consolidation to result in a new breakout, or is a test of lower support more likely?