Home » Journal » Why Is the Crypto Market Down Today? Bitcoin Dips Toward $100K as War and Liquidations Rock Markets
The prices of major coins like Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA) are facing sharp drops today. Solana (SOL) and AI-based tokens have also recorded large declines.
The total crypto market cap now sits at $3.15 trillion, falling close to 2% over the past 24 hours. Trading volume is also down 6%, signaling lower market participation and uncertainty.
The overall market decline is being linked to fresh geopolitical tensions. The US launched airstrikes against Iranian nuclear facilities, ramping up the Iran-Israel clash, reports BeInCrypto. That headline triggered an immediate market reaction, with altcoins declining by up to 10%.
— BeInCrypto (@beincrypto) June 22, 2025🚨BREAKING: US Strikes Iran Altcoins Crash in Geopolitical Shock
The crypto market turned red as the US bombed Iranian nuclear sites, escalating the Iran-Israel war.
ETH, ADA, and AI coins plunged up to 10%. pic.twitter.com/SLTVLKVzfF
Meanwhile, over $677 million in leveraged positions were liquidated, as reported by Crypto Patel. His tweet stated, “WAR + LIQUIDATION BLOODBATH IN CRYPTO,” confirming that over 171,000 traders were wiped out in a single day. The largest loss came from a $9.15 million ETH long on HTX.
— Crypto Patel (@CryptoPatel) June 22, 2025WAR + LIQUIDATION BLOODBATH IN CRYPTO
Charts nuked. Geopolitics on fire. Traders wrecked.Here’s what went down in the last 24H:
🔹 $ETH broke below $2,300
🔹 $BTC dipped under $102K
🔹 171,722+ traders liquidated
🔹 $677M wiped out
🔹 Biggest hit? $9.15M ETH long on HTXBut it… pic.twitter.com/dFcePysFW3
Let’s take a closer look at technical levels and what traders are saying across X.
BTC price is trading just above $102,000 after failing to break higher over the weekend. Price action is compressing between $101,500 and $104,000, forming what many analysts consider a potential “liquidity sweep” setup.
According to a tweet from Altcoin Sherpa, it’s “hard to imagine BTC not running those lows past the wick,” suggesting price could dip below $101,000 to trigger stop losses before rebounding.
This setup aligns with current market structure. Short-term support is close to $101,000, with the next key resistance at $106,000. Market participants wait for whether price breaks below $101K or returns above $104K.
Ethereum is under heavy pressure, down over 6% today and trading around $2,263. A tweet by Barchart marked the move with a “BREAKING 🚨” alert, reflecting the urgency of the price action.
ETH price began falling after losing support at $2,450. Sellers quickly pushed the price through multiple levels, with little resistance along the way. The next support to monitor is between $2,200 and $2,250. If that breaks, a move toward $2,000 is likely.
Resistance has now formed around $2,420–$2,450. Unless ETH reclaims those levels, bearish momentum is expected to continue.
While Bitcoin price trades just above $102,000, many altcoins are facing deeper losses. AI-focused tokens and high-beta projects have dropped more than 10% in some cases, reflecting a flight to safety.
With ETH price nearing a very important support level and BTC failing to gain direction, the market is tight. Sentiment has slightly gone bearish, and any breakdown below important levels would add to further losses.
Market participants are waiting for a decisive move from Bitcoin. Whether BTC holds $101K or breaks below could set the tone for the rest of the market this week.
