The post Bitcoin (BTC) Drops Below $103,000 Amid Israel-Iran Conflict: Major Rebound Underway? appeared on BitcoinEthereumNews.com.

Amid major strikes by Israel across Iran, the Bitcoin price fell almost $6,000 through Thursday and into Friday. A comprehensive bounce is now underway. Can this recovery continue? Israel/Iran conflict develops When looking at the potential for a big recovery for Bitcoin it must be borne in mind that the situation in the Israel/Iran conflict is extremely uncertain. The ‘preemptive’ attack by Israel on Iran is said to have inflicted much damage on Iran’s nuclear capabilities, and a “harsh response” has been promised by Tehran. A continuation of this conflict could have further repercussions for global markets. The S&P 500 Futures is down around -1% so far, and with the US stock market opening very shortly it is to be wondered just how far the major indices might fall. $BTC correction tests strong support Source: TradingView The 4-hour chart for $BTC shows the extent of the correction, but also how a long wick down touched not only the horizontal support above $202,000, but in addition retested the descending trendline that comes from the all-time high. At the bottom of the chart, the Stochastic RSI looks ready to turn positive once again, while the Relative Strength Index has just had its indicator bounce from the oversold level. Bulls set on regaining $107,000 as support Source: TradingView The daily chart for $BTC shows that the price is continuing to recover and that the candle wick to the downside is getting longer as the price climbs. Now above $105,000, the route back to $107,000, which has now become resistance, is not too far away. Regaining this level would be a triumph for the bulls and could augur a return to the heights of $110,000 and above. Weekly candle close above $105,000 would be a win for the bulls Source: TradingView The weekly chart…

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Filed under: News - @ June 14, 2025 1:27 pm