Why is Bitcoin down today?
Bitcoin slips to $104,000 as markets react to Trump’s Iran comments
On June 18, 2025, global cryptocurrency markets faced another broad decline, weighed down by a volatile mix of geopolitical instability and economic uncertainty.
Bitcoin dropped 1.4% to $104,737, maintaining its grip on the psychologically crucial $100,000 level. Meanwhile, the total crypto market capitalization slid 1.6% to $3.28 trillion, reflecting a cautious retreat by investors. The week has been particularly harsh for digital assets, with Bitcoin posting losses in six of the past seven trading sessions. Despite the declines, BTC’s relative outperformance compared to many altcoins suggests lingering institutional support amid the turbulence.
Trump’s Iran Remarks Add Fuel to Market Jitters
Adding to the pressure were comments by U.S. President Donald Trump, who described Iran’s supreme leader as an “easy target” amid escalating tensions in the Middle East. The remark sent BTC briefly tumbling from $104,310 to $103,553 before recovering later in the session.
While the dip was temporary, it underscored how reactive markets have become to political flashpoints, especially those involving potential military escalations. These geopolitical stressors have dampened appetite for high-risk assets, even those like Bitcoin that are often touted as hedges against traditional instability.
Macro Uncertainty and Technical Resistance Compound Selling
According to market analyst Anton Kharitonov, a combination of factors is behind the latest pullback. Stalled U.S.-China trade talks have dimmed prospects for economic cooperation, while uncertainty around the timing of Federal Reserve interest rate cuts has stifled market momentum.
Kharitonov says:
"Markets are on hold, awaiting the Fed's rate decision. But I expect Bitcoin to resume its growth by the end of this week."
Technically, Bitcoin’s failure to sustain a move above $110,000 has triggered long position liquidations, deepening the decline. At the same time, many traders are engaging in profit-taking following BTC’s run to record highs earlier this month. With sentiment turning risk-averse, the market may remain under pressure until clearer macro signals emerge.
Recently we wrote that Bitcoin’s price has struggled to regain bullish momentum after its sharp pullback from the May 22 all-time high at $112,000.
