Bitcoin (BTC) is currently trading at $105,535, holding critical support levels amidst growing instability in the macroeconomic environment.
Current Bitcoin Price and Technical Analysis
On the daily chart, Bitcoin has established a clear range between $100,000 and $109,000, with bulls still defending key zones, yet momentum is clearly stalling.
**Resistance:** The upper orange band at $109,000 has rejected multiple breakout attempts since late May. **Support:** BTC is holding above the psychological $100,000 level, with the 200-day EMA at $92,819 providing longer-term support. **Key Zones:** Intermediate support lies at $103,343—currently acting as the near-term floor. **RSI (14):** Hovering near neutral at 50.07, suggesting indecision and a lack of trend momentum.
Unless BTC breaks above $109K or falls below $100K, we are likely to remain range-bound.
Geopolitical Instability and its Impact on Cryptocurrencies
One of the biggest wildcards in the crypto market right now is rising geopolitical instability, especially renewed tensions between Iran and Israel.
Why does it matter for crypto?
**Iran has a** history of using cryptocurrencies to bypass international payment sanctions, especially with Bitcoin and stablecoins. Any escalation could push Iran—and potentially other sanctioned states—toward larger crypto transactions, influencing BTC demand and global flows. At the same time, **risk sentiment in global markets** could shift rapidly based on war-related headlines, and crypto is no exception. Increased pressure in the Middle East often leads to **higher volatility across risk assets**, including crypto.
Bitcoin Price Forecast: What to Expect Next?
1. A break above $109K could signal the start of a new leg up—targeting previous highs. 2. A drop below $100K may trigger a deeper retracement toward the $92K and $86K support zones. 3. Watch RSI and volume for clues about the next breakout attempt.
With geopolitical shocks and macro headwinds converging, the next BTC move will likely be sharp—either as a breakout or a flush.
The price stability of Bitcoin is under threat from geopolitical factors and overall market instability, creating conditions for possible sharp changes in the near future.
