Overview

• Bitcoin plunged to as low as $98,200 over the weekend after U.S.-backed Israeli airstrikes on Iranian nuclear facilities raised fears of conflict escalation and a Strait of Hormuz shutdown.
• More than $1 billion in crypto positions were liquidated during the sell-off before Bitcoin recovered to around $101,300 by Monday afternoon.
• On-chain metrics identify $98,200 as the short-term holder realized price, marking a crucial support level for sustaining bullish momentum.
• Institutional investors, led by BlackRock’s spot Bitcoin ETFs and buyers such as Metaplanet and Cardone Capital, acquired thousands of BTC—significantly outpacing weekly mining supply.
• Last week’s U.S. Senate approval of the GENIUS Act for stablecoin oversight has provided clearer regulatory guidance that market participants say underpins the recent rally.