Bitcoin price slides for third day as Israel-Iran conflict fuels sentiment shift
Bitcoin drops 3% amid Israel-Iran conflict, hits 7-day low
Bitcoin price extended its decline for the third consecutive day on Friday, June 13, weighed down by both technical breakdowns and geopolitical tension.
Earlier today during the Asian session, the cryptocurrency dropped 3% from the open at $106,000 to hit a 7-day low at $102,800. This move wiped out all earlier gains from the week and flipped the weekly performance into a loss.
Highlights
-Bitcoin dropped 3% to a 7-day low as geopolitical tensions spooked markets
-Price bounced from $103,500 but remains 1% down for the week
-Technical breakdowns and rising volume suggest short-term downside risk
The trigger behind today’s selloff appears tied to a shift in market sentiment after Israel launched airstrikes on Iran. Risk-off tone spread quickly across global assets, and Bitcoin was not spared. The heightened uncertainty pushed traders to scale back from long positions, increasing sell pressure.
BTC price dynamics (May - June 2025). Source: TradingView
Still, during the European session today, Bitcoin bounced off support at $103,500 and climbed back to $104,800. Buyers stepped in to defend the level, and the rebound offers short-term relief. The recovery could stretch toward $106,500, an area that aligns closely with the 100 EMA on the 4-hour chart. That zone now acts as a near-term resistance and a key test for bullish interest.
Bitcoin RSI enters bearish zone, signaling extended downside possibilities
At the current price in the European session, Bitcoin is trading 1% lower for the day and for the week. If geopolitical tensions continue to affect broader risk appetite, the support level at $103,500 could come under renewed pressure. Failure to hold above that mark would likely open the door to a deeper retracement heading into the weekend.
On the technical side, the 4-hour chart shows that the decline since midweek has come with growing volume, a sign of strong bearish conviction. Thursday’s price action saw Bitcoin fall through key moving averages ‘the 20, 50 and 100 EMA’ and Friday’s further drop increased the distance from these broken supports. This indicates mounting weakness in the short-term structure.
The daily RSI has also crossed into bearish territory following the recent decline, which suggests a possible extension of downside momentum. However, unless sentiment around the Israel-Iran situation worsens, Bitcoin may see another attempt to retest broken support-turned-resistance levels.
Bitcoin dropped below the 100 EMA as bulls lost strength near $110,600. Falling volume showed sellers were easing off while price hovered near $108,000.
