Bitcoin briefly crashed below $100,000, liquidating over $1 billion in leveraged positions. The BTC Bull presale attracts investors, over $7.3 million raised.
The crypto market is mostly in the red. In the past 24 hours, the total crypto market fell by 2.6% to $3.2 trillion as some of the best cryptos to buy, including 
BTC ▲4.05% and 
SOL ▲4.05%, broke below key support levels.
DISCOVER: 20+ Next Crypto to Explode in 2025
Bitcoin Crashes Below $100,000, Triggering Massive Liquidations
While altcoins fell the most, the Bitcoin drop below $100,000 sent shockwaves across the crypto market, triggering sharp losses even among top Solana meme coins.
According to Coingecko, TRUMP is down 15% in the past week, while BONK is down 21% in the same period. FARTCOIN, WIF, and DOG have slid below the 20% level in the past week of trading and are technically under pressure.
(Source)
A recovery in the crypto market might help assuage fears, but when BTCUSDT fell below $100,000, it cleared overleveraged positions. Data from Coinglass reveals that over $1 billion in leveraged positions were closed, mostly on Bybit and Binance.
As of press time, over $625 million worth of positions have been closed, with more than 181,600 traders liquidated. The largest leveraged position closed was on HTX, where a $35.45 million position was liquidated.
(Source)
The Bitcoin and crypto market sell-off followed a bombing campaign in Iran, escalating tensions in the region.
BREAKING: Iranian parliament has just voted to close the Strait of Hormuz.
– 20% of global oil passes through the Strait
HERE’s what to expect if successful:
– Oil Prices could spike by 30–50%+ almost immediately
– Global Inflation likely Rises
– U.S. Gas Prices likely… pic.twitter.com/WC4dmeagRE
— Brian Krassenstein (@krassenstein) June 22, 2025
Iranian lawmakers voted to close the Strait of Hormuz, a decision that could cause ripple effects on global oil and trade flows.
Will BTCUSD Recover and Hold $100,000?
As tensions rose, investors dumped riskier crypto assets, including Bitcoin, favoring USD, gold, and government treasuries.
This capital flight to safety forced Bitcoin and crypto prices lower, with a wave of mostly long liquidations providing fuel.
Currently, BTCUSD is above $100,000 and steady. However, the downtrend persists as prices trade below the June 4-5 lows in a bear breakout formation.
Technically, a push above $103,000, reversing losses from June 22, could catalyze demand, drawing in more buyers.
Despite tensions in the Middle East, institutions have been accumulating. On June 20, they bought $6.37 million worth of spot Bitcoin ETF shares, continuing consistent demand for BTC-backed shares after the brief sell-off on June 5 and 6.
(Source)
BTC Bull on Fire: Over $7.3 Million Raised
If Bitcoin rises, presales tracking Bitcoin, like BTC Bull, will also shine.
With over $7.3 million raised ahead of the June 30 BTCBULL token listing, investors are pouring in, eager to gain exposure to BTC. BTCBULL allows holders to passively earn Bitcoin for free.
BTC Bull rewards BTCBULL holders when BTCUSDT rallies and breaks key price milestones. Free BTC will be distributed when BTCUSDT reaches $150,000, with additional distributions for every $50,000 increase until $1 million.
Moreover, BTCBULL is deflationary. Developers will burn a portion of the total supply when BTCUSDT hits $125,000, with further burns for every $25,000 increase in the Bitcoin price.
Currently, presale investors can buy BTCBULL for $0.00258 using ETH, USDT, or cash and stake it for a 56% APY.
DISCOVER: Best New Cryptocurrencies to Invest in 2025 – Top New Crypto Coins
Bitcoin Losses $100k, Over $1B Liquidated; BTC Bull Shines
- Bitcoin briefly falls below $100,000 before recovering
- Over $1 billion in leveraged crypto positions closed
- US bombings in Iran drive traders to gold and USD
- BTC Bull presale raises over $7.3 million
Why you can trust 99Bitcoins
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
Weekly Research
100k+Monthly readers
Expert contributors
2000+Crypto Projects Reviewed
