Bitcoin Remains Defiant Amid Escalating Middle East Conflict and Trade War Fears

Bitcoin hovered around $105,100 on June 14, down 0.22% over the past 24 hours as traders digested geopolitical tension. Price action remained relatively tight, with BTC moving within a $2,090 range from $104,220 to $106,135. The largest moves occurred overnight in Asia trading, where Bitcoin briefly dipped below $104,200 before rebounding on high volume.

Much of the recent volatility has been driven by developments in the Middle East. The Israel-Iran war, which some analysts fear could spread to other parts of the Middle East, combined with trade tensions between the U.S. and some of its key trading partners, has unsettled risk markets. More than $1.1 billion in crypto liquidations were recorded during the initial wave of conflict headlines, though bitcoin has shown resilience in the aftermath.

Traders appear to be leaning bullish in the medium term, as BTC continues to hold a pattern of higher lows despite intraday wobbles. Profit-taking near $106,000 capped upside momentum, but support near $105,000 continues to draw buyers on dips. Market participants are watching this range closely, particularly as safe-haven demand and risk sentiment remain intertwined.

While short-term headlines continue to drive volatility, the broader structure suggests BTC is consolidating rather than reversing. If support around $104,950 holds, Bitcoin may attempt another push above $106,200.

Technical Analysis Highlights

• BTC traded in a $2,090 range from $104,182 to $106,272 over the past 24 hours.
• A key bounce occurred at $104,182 with 15,342 BTC traded during the recovery.
• Resistance formed near $106,200 amid consistent profit-taking.
• A rising trendline of higher lows remains intact.
• Psychological support at $105,000 is holding for now.
• Recent price range: $104,875 to $105,202 in the last hour.
• A sharp dip below $105K at 07:19 reversed quickly, with $105,200 acting as near-term resistance.
• Final 15-minute candles showed minor exhaustion, but volume patterns suggest accumulation on dips.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Source