At the time of writing, the price of Bitcoin stands at $101,400 amidst escalating geopolitical tensions. Qatar has closed its airspace until further notice, and the United States has announced anticipation of a retaliation from Iran within 1-2 days due to ongoing threats from Iranian officials. Despite a U.S. attack on Sunday, a significant retaliation has not yet materialized, countering previous night predictions of extraordinary developments.
Has the Cryptocurrency Decline Ended?
Currently, Bitcoin (BTC) 
$82,774 is stabilized by the drop in oil prices. Before Qatar took measures to close its airspace, U.S. aircrafts vacated the region, leaving it vulnerable to potential attacks from Iran. With the necessity to maintain good relations with Gulf countries, Iran might face severe reactions if it executes a significant retaliation.
In his recent assessment, Michael Poppe emphasized the importance of monitoring altcoin markets and the reactions to movements in Brent Crude and Gold. If gold’s upward momentum does not persist, it could signal a decrease in uncertainty in the Middle East, offering an opportunity for stabilization.
For now, oil and gold remain relatively calm with the U.S. and Israel seeking conditions favorable for agreements. Whether Iran capitalizes on this opportunity determines the continuation of the current decline.
Bitcoin (BTC) Predictions
Ahead of Friday’s PCE data, Bowman indicated a potential interest rate cut in July. The United States is currently unprepared for a rapid wave of inflation, necessitating swift interest rate reductions. However, with his term set to end in less than a year, Powell hinted at potential worsening of conditions, suggesting a delay in any cuts.
Jelle shared a BTC chart noting the successful re-test of the 100,000-dollar level, first breached in early May. So far, this re-test appears successful, though he anticipates observing the U.S. markets’ reactions to recent weekends’ events, emphasizing the importance of maintaining the 100,000-dollar level.
Altcoin Sherpa predicts testing of lower levels, suggesting a possible new long attempt at $99,500. However, if the market moves towards lower support levels, Sherpa plans to exit all positions.
