Bitcoin Price News: BTC Recovers After Iran Attacks U.S. Airbase – Is It a Safe Haven?
June 23, 2025
Bitcoin (BTC) has risen 3.2% in 24 hours, surpassing $100,000 following Iran’s attack on a U.S. airbase. The surge comes after short positions were liquidated during the weekend, with the market eyeing Bitcoin as a potential safe haven amid rising geopolitical tensions.
Bitcoin, the flagship cryptocurrency known as BTC, has gained traction lately. Up 3.2% in the last day, it’s holding above the significant $100,000 mark despite the chaos of the weekend sell-off. News broke just hours ago about an attack by Iran targeting the Al-Udeid air base in Qatar, which houses U.S. air forces. This, many believe, is Iran’s response to recent bombings that the U.S. conducted on its vital uranium enrichment sites.
Right off the bat after news of the attack hit, Bitcoin’s price spiked. It had been on a recovery path throughout the day and seems poised to break the $103,000 mark after bouncing back from $100,000 with considerable volume. While short positions thrived during the weekend, they took a hit following the news, with CoinGlass reporting $25 million worth of shorts erased almost immediately after the incident.
In total, roughly $220 million in both shorts and longs has been wiped from the crypto market over the past 24 hours. Over the weekend, in a significant downturn triggered by U.S. military actions, over $419 million worth of Bitcoin long positions fell victim to liquidation.
The situation on the ground raises an interesting question: is Bitcoin now viewed as a safe haven amid looming geopolitical tensions? Notably, this isn’t the first rodeo for Bitcoin at the $100,000 threshold since mid-May. Historically, after hitting this mark, it has often resulted in lower highs, which indicates a potential drop in buyer interest.
From a technical perspective, there’s something brewing. The 9-day and 21-day exponential moving averages (EMAs) have crossed bearishly—often referred to as a ‘death cross’—which may foresee an impending price decline. Although, there’s been no confirmed downtrend yet; Bitcoin would need to breach the $100,000 support for that could happen.
However, shining a light on the longer-term outlook, Bitcoin is still trading above its 200-day EMA, which keeps the bullish sentiment alive for now. Zooming into the hourly chart reveals what resembles a bullish inverse head and shoulders pattern. This could mean a wave of short-term gains for the crypto giant. The neckline of this pattern is currently set at $103,443. BTC found solid support after testing $100,000—a strong psychological level for traders.
A rise past $103,500 would signal confirmation of this bullish pattern. Traders are watching to see if Bitcoin can retest this level, gauging the market’s reaction. Should it hold and bounce, we could be looking at BTC targeting the $109,000 range next, given that this projection aligns with the size of the head in the inverse pattern. Everything’s in play, but the stakes have never felt higher as global tensions rise and cryptocurrencies fluctuate under pressure.
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