Bitcoin (BTC) whipsawed below $100,000 at about 4 p.m. UTC on June 23 and reclaimed nearly $104,000 three hours later as traders processed news of an Iranian missile strike on a US air base in Qatar that caused no casualties.

As of press time, Bitcoin was trading at $103,801.74, up 4.5% over the past 24 hours after hitting an intraday low of around $99,500.

Iran fired a limited salvo at Al Udeid Air Base after Washington bombed three Iranian nuclear sites two days earlier. US officials said Tehran alerted Washington through back channels, allowing personnel to take cover. 

President Donald Trump confirmed the warning and called the response “very weak,” adding that the measured strike signaled an opening for de-escalation.

The absence of injuries blunted initial market anxiety. Bitcoin’s one-hour candle pierced $100,000 on high volume, then reversed as liquidity providers restored bid depth. By 7 p.m. UTC, the pair traded just below $104,000 on Binance order books, according to TradingView.

Range, leverage, and what to watch

Despite the recent volatility caused by escalating tensions in the Middle East, Bitcoin has shown resilience, trading above the six-figure level for the vast majority of it.

Bitfinex Alpha’s June 23 note called exchange-traded fund (ETF) inflows “remarkably stable,” arguing that spot funds now act as a programmatic floor. 

The report pegged the zone between $94,000 and $95,000 as critical support, and the range between $105,000 and $110,000 as near-term resistance. Until weekly inflows re-accelerate past $1.5 billion or a fresh macro catalyst emerges, analysts expect prices to oscillate inside that corridor.

Derivatives data support the view of contained volatility. Futures open interest stands near $52.8 billion and options near $43.4 billion. Combined interest remains elevated at roughly $96 billion but has retreated from the $114 billion peak after a $14 billion deleveraging flush last week. 

Funding rates now sit in a “healthier zone,” suggesting capital is rotating into longer-horizon positions instead of short-term punts. The report warned that a renewed build-up of crowded leverage could trigger sharp liquidations, yet current metrics imply a firmer base.

ETF flows remain the fulcrum. Steady or rising allocations, especially during US hours when most spot-driven discovery occurs, would favor retests of the $110,000 cap. Conversely, a sustained week of net outflows would mark the first serious sign of rotational risk and could drag BTC back toward the mid-$90,000s, particularly if accompanied by fresh geopolitical stress.

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Bitcoin (BTC) continued its pullback on June 17, sliding over 4% amid renewed military and political friction between Israel and Iran.

The flagship crypto fell to an intraday low of $103,300 before bulls stepped in to steady the price and push it back above $104,000,

As of press time, Bitcoin was trading at $104,439, down roughly 3.87% over the past 24 hours. Meanwhile, the wider crypto market fared relatively worse with a 6% average decline across the board. 

The impact on altcoins is highlighted by the nearly $508 million in liquidations in the past 24 hours, with over $167 million attributed to Ethereum (ETH) positions, according to Coinglass data.

ETH was trading at $2,471.72 as of press time, down 5.58% over the past 24 hours, while XRP was trading at $2.16 after a 6% decline. BNB saw significantly lower volatility over the same period and was down around 1.6% over the past day and trading at $647.77 as of press time.

Solana was down 5.6% and trading at $148.77 as of press time, while Cardano was down 5.6% to $0.6175.

Middle East tensions escalate

Price action was directly linked to the outbreak of fresh hostilities in the Middle East. Israel said its forces killed a senior Islamic Revolutionary Guard Corps commander in Tehran early on June 17.

This latest strike in a five-day exchange that has involved missiles, drones, and warnings to civilians.

In Washington, President Donald Trump posted that the US “knows where Iran’s Supreme Leader is hiding” and demanded Iran’s “UNCONDITIONAL SURRENDER,” escalating rhetoric around possible US involvement.

Traders watch as the prospect of wider regional conflict instigates risk aversion across global assets, including crypto.

Viable hedge

Analysts recently highlighted Bitcoin’s relative strength, calling it a viable alternative to increase a hedge in portfolios.

Ecoinometrics found that adding a 10% Bitcoin sleeve to a classic 60/40 allocation lifted the past-year risk-adjusted return to 0.80 with a 14% gain, versus 0.62 and 12% for the same swap into gold. 

Fidelity strategists Chris Kuiper and Jurrien Timmer say that persistent inflation and policy uncertainty have weakened the hedging role of bonds, making scarce digital assets such as Bitcoin an increasingly favored ballast in diversified portfolios.

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This accumulation trend matches the market volatility and growing institutional interest in digital assets. Ethereum’s daily trading volume is now over $20.9 billion, even though the price is struggling to break above $2,500.

Ethereum is the second largest cryptocurrency by market cap, currently at $298 billion, with a circulating supply of 120.7 million ETH.

Ethereum Faces Resistance

Despite the weekly rally, Ethereum is now facing resistance. The price is at $2,478, just below the 50-period EMA ($2,535). A descending triangle is forming on the 2-hour chart—a bearish setup—marked by lower highs and support at $2,420.

• Resistance zones: $2,535, $2,591, $2,648
• Support zones: $2,420, $2,348, $2,278
• Bias: Bearish below $2,535

The MACD momentum indicator agrees with this view, the histogram and signal lines are below zero. Recent candle structure shows weak buying interest, more likely to break down.

Ethereum Trade Setup: Watch for Triangle Break

Ethereum price prediction is coiled, waiting to break out. A strong move below $2,420 with volume could trigger a deeper pullback to $2,348 and $2,278.

A bullish engulfing candle above $2,535 would invalidate the bearish thesis and open up for a retest of $2,648 and maybe higher.

Short trade setup:

• Entry: Below $2,420
• Target: $2,348 and $2,278
• Stop-loss: Above $2,515

For now, we wait. Whales are buying and overall crypto is bullish, so Ethereum’s next big move will come with Bitcoin’s move near $103K. Watch for clean breaks or rejections.

BTC Bull Token Nears $6.84M Cap as 71% Staking Yield Drives Demand

As Bitcoin stabilizes above $102K, investor focus is shifting toward yield-generating altcoins—none more so than BTC Bull Token ($BTCBULL). The token has now raised $5.87 million out of its $6.84 million presale goal, with a price increase looming as it enters its final funding stretch.

What sets BTCBULL apart is its flexible staking model, offering an estimated 71% annual yield with no lockups or withdrawal penalties.

This approach gives investors the freedom to earn passive income while maintaining full liquidity—an attractive alternative to traditional DeFi staking protocols.

Key Stats:

• USDT Raised: $5,878,513.14 / $6,844,387
• Token Price: $0.002515
• Staking Pool: 1.47B BTCBULL
• Yield: 71% APY

BTCBULL merges the viral appeal of meme tokens with the real-world utility of DeFi, making it a standout pick for those looking to capitalize on the 2025 crypto cycle.

With under $1 million left before the next price tier, entry at current levels is limited—fueling urgency among retail investors seeking early access to passive yield.

The post Ethereum Price Prediction: ETH Surges 5.7% to $2,495 in Explosive Weekly Rally as Whales Accumulate While Bitcoin Approaches $104K Resistance appeared first on Cryptonews.