Bitcoin Plunges Below $99,000 Amid U.S. Airstrike on Iran’s Nuclear Facility, Triggering Crypto Selloff

JatimVoice.com – Bitcoin’s price corrected sharply, briefly falling below the psychological $99,000 level, driven by heightened geopolitical tensions following a U.S. airstrike on Iran’s key nuclear facility. This decline, the lowest level since May 9, 2025, sparked a wider sell-off across the global digital asset market.

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Etherum, the second-largest cryptocurrency, also saw a steep drop of over 10% before partially recovering. Other altcoins, including Solana (-7%), XRP (-8%), and Dogecoin (-9%), faced significant losses. According to CoinGlass, over $1 billion in crypto positions were liquidated in the past 24 hours, primarily risky long positions, signaling a fragile market amid geopolitical unrest.

Antony Kusuma, Vice President of INDODAX, attributed Bitcoin’s decline to macro risk sentiment rather than purely technical factors. “Crypto markets are highly sensitive to geopolitical uncertainty. The U.S. strike on Iran shows that Bitcoin, often seen as an inflation hedge, is still viewed as a risky asset by some investors,” Antony said in a statement on Monday (June 23).

He noted that markets began reducing crypto exposure last week as news of a potential strike emerged, reflected in a sharp drop in Bitcoin spot ETF inflows. Inflows reached over $1 billion from Monday to Wednesday but stalled on Thursday, with only $6.4 million recorded on Friday, indicating institutional caution.

“This volatility is a reminder for retail investors that sharp corrections are part of crypto investing. For experienced investors, these dips can present attractive entry points,” Antony added.

JPMorgan warned that oil prices could surge to $130 per barrel if Iran closes the Strait of Hormuz, a critical oil export route, potentially pushing U.S. inflation near 5% and altering Federal Reserve interest rate policies. This fear prompted investors to shift funds from high-risk assets like crypto to safer instruments, intensifying selling pressure.

Despite the correction, Antony remains optimistic about Bitcoin’s long-term outlook, citing its historical post-halving cycles. Since the April 2024 halving, Bitcoin has been in a bullish phase, typically lasting 12–18 months. “Bitcoin’s fundamentals—limited supply and growing institutional adoption—remain strong. This is just short-term market dynamics,” he said.

INDODAX continues to promote education and transparency to help users navigate market turbulence. “We work closely with regulators to ensure safe, legal, and supervised crypto transactions in Indonesia,” Antony emphasized.

Historically, Bitcoin has weathered significant corrections and rebounded. Long-term investors who understand blockchain’s intrinsic value and Bitcoin’s scarcity are likely to hold firm. With ongoing geopolitical developments and potential U.S. interest rate shifts, investors are advised to stay vigilant but avoid panic.

While Bitcoin dipped below $99,000, its recovery potential remains intact, demanding caution, strategy, and a long-term perspective in the crypto market.

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