Bitcoin’s recent dip has delivered the harshest jolt of the month. On June 13, 2025, BTC dropped by over 3.3%, sliding from $107,850 to as low as $103,274, its lowest point in weeks. The move triggered a whopping $1.16 billion in crypto liquidations within just 24 hours, as cascading stop-losses and margin calls flushed out leveraged traders.
This was not a technical correction in isolation. It was a convergence of global tensions, algorithmic trades, and market panic, a classic case of how fast crypto can unravel when the fear index spikes.
What Triggered the Selloff?
1. Geopolitical Flashpoint: Israel–Iran Tensions
News of Israel’s direct military strikes on Iranian nuclear and military targets, dubbed Operation Rising Lion, quickly spread across global media. As fear spread, risk markets—including equities and crypto—suffered instant backlash.
“When war breaks out, traders don’t analyze—they exit,” said crypto analyst D. Lowe.
“And crypto, being liquid and 24/7, is the first out the door.”
2. Technical Breakdown and Liquidation Cascade
The price dip was worsened by BTC breaking its 50-period exponential moving average (EMA) and forming a bearish MACD crossover, classic indicators that often precede heavy selling.
From there, automated systems took over. Within hours:
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Over $1.16 billion was liquidated across exchanges.
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Most losses were long positions, totaling ~$1.05 billion.
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Binance alone recorded a single liquidation of over $200 million.
This cascade spanned over 247,000 traders, showcasing just how fragile bullish sentiment becomes under macro stress.
Market Snapshot
| Asset | 24h Price Drop | Liquidations (Est.) |
|---|---|---|
| Bitcoin | –3.3% | $550M+ |
| Ethereum | –8.1% | $260M+ |
| Solana | –9.0% | $105M+ |
| XRP | –5.2% | $38M+ |
| Dogecoin | –9.2% | $28M+ |
Is Bitcoin Still a Safe Haven?
This correction reignites a lingering question: can Bitcoin really be considered digital gold?
Despite being promoted as a hedge against inflation, central banks, and fiat instability, Bitcoin once again reacted like a risk-on asset. While gold surged past $3,420 on war headlines, BTC sank.
As Barron’s put it:
“Bitcoin Price Tumbles as Gold Rises. Why Crypto Is No Haven.”
Still, historical patterns show that BTC often bounces back faster than traditional assets post-panic, suggesting this may be a sharp but temporary retreat.
Key Levels to Watch
With volatility high, traders are eyeing these technical zones:
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$103,132 – First support zone (already tested)
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$101,705 – Major risk level
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$96,000 – Next bearish target if support fails
Reclaiming the $104,500–$105,000 zone would be bullish short-term, indicating potential recovery or at least consolidation.
What Comes Next?
1. Geopolitical Developments
Any escalation between Israel and Iran will keep downward pressure on crypto and equity markets. Traders are closely monitoring diplomatic responses and defense escalations.
2. ETF Flow Watch
Institutions like BlackRock and Fidelity have been actively buying via spot Bitcoin ETFs in recent months. Their reaction to this crash may shape mid-term sentiment.
3. Crypto Derivatives Behavior
Funding rates, open interest, and perpetual swap behavior will indicate whether the market is leaning toward recovery or bracing for another leg down.
Analyst Take
“This wasn’t just a crypto story—it was a global risk reaction,” said analyst Farah Al-Bakri.
“What matters now is how fast BTC reclaims key support. If it holds, the bulls can reset. If it breaks, we’re heading under $100K fast.”
Final Thoughts
Bitcoin’s worst day in June wasn’t just about price, it was about perception. Once again, in a geopolitical crisis, the crypto market showed it’s still highly reactive, highly leveraged, and still finding its footing as a mainstream financial tool.
But history tells us this: markets may panic, but crypto rebounds, and fast. Whether this was a flush out or a deeper signal will become clearer in the days ahead.
For now, traders are cautious, liquidity is tight, and all eyes are on the next global headline and BTC candle.
FAQs
Why did Bitcoin drop to $103K?
A mix of geopolitical tensions and technical breakdowns triggered a market-wide sell-off, causing BTC to drop over 3% in 24 hours.
What caused over $1 billion in liquidations?
Most liquidations were from overleveraged long positions, automatically closed as prices fell and stop-losses were triggered.
Is Bitcoin still a safe-haven asset?
Not in the short term. During crises like the Israel–Iran conflict, investors typically rush to gold and cash over crypto.
Will BTC fall below $100K?
If support around $101,700 fails, analysts say BTC could test $98K or even $96K levels—but a rebound is possible if macro fears ease.
Glossary of Key Terms
Bitcoin (BTC):
The largest cryptocurrency by market cap, often used as a benchmark for crypto markets.
Liquidation:
Automatic closure of a leveraged position when losses exceed a margin threshold, common in volatile markets.
Long Position:
A trade that profits if the asset’s price goes up. Many long positions were liquidated during this drop.
MACD (Moving Average Convergence Divergence):
A momentum indicator that helps traders identify trend reversals—BTC showed a bearish crossover before the crash.
EMA (Exponential Moving Average):
A technical indicator giving more weight to recent prices; BTC fell below its 50-period EMA, signaling weakness.
Support Level:
A price level where buying interest is strong enough to prevent further decline. BTC’s critical support was at ~$103,132.
Risk-Off Sentiment:
A market condition where investors flee risky assets (like crypto) in favor of safe havens like gold or U.S. treasuries.
