Middle East Crisis Hits Bitcoin: What Should We Expect for BTC Moving Forward? Plummet or Rise? Analysts Commented!

Bitcoin price rose above 100 thousand dollars again in early May after a long correction. However, BTC fell below the 100 thousand dollar level for the first time since early May after the developments between the US and Iran over the weekend.

Some analysts believe this drop is only temporary, while others suggest that if critical levels are not maintained, the decline could deepen.

At this point, experienced analyst Markus Thielen, founder of 10x Research, stated that the decline or rise of Bitcoin depends on certain levels.

The analyst explaining the critical levels for Bitcoin stated that as long as BTC remains above the short-term realized price of $98,000 and the trend support of $102,000, there is a chance of an upward movement and that investors may continue to look for tactical rising opportunities.

However, the analyst warned investors about this situation and stated that especially in an environment where strong bullish catalysts are absent, there is a very high probability of a breakdown below this range.

The analyst stated that investors need to manage their risks:

"BTC attempted three times to break above $110,000 due to short-term macroeconomic shocks, from tariff concerns in May to the escalation between Israel and Iran in June, and failed.

This indicates that for Bitcoin, which has been in a consolidation phase for the last five weeks, these events are not acting as a hedge against risk in the current environment.

Thielen, stating that Bitcoin is too risky, said that the consolidation could last for a few more months and added, "Our view is that we will consolidate throughout the summer."

The Upward Trend in Bitcoin Continues!

While Thielen does not think optimistically about Bitcoin, the manager of the digital asset platform OSL, Eugene Cheung, stated that despite Bitcoin temporarily falling below 100,000 dollars, its resistance indicates strong institutional support.

Cheung, who continues to maintain an upward trend, stated, "Although Bitcoin has fallen below 100,000 dollars due to increased geopolitical tensions following the U.S. strike on Iran, it has remained resilient. This indicates strong institutional support and long-term optimism."

Finally, LVRG Research analyst Nick Ruck argued that altcoins could perform better than Bitcoin in the coming months.

Ruck stated that catalysts for crypto could emerge if macro conditions stabilize and that altcoins could perform better.

*This is not investment advice.

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