Bitcoin Slides Below $100K, But Recovery Is in Sight
Bitcoin Slides Below $100K — But Recovery Is in Sight, Says Arthur Hayes
Bitcoin briefly slipped below the $100,000 mark on Sunday night, tumbling to around $98,500 for the first time since early May. The drop coincided with heightened geopolitical tensions, including U.S. airstrikes on Iranian nuclear sites. However, the decline was short-lived, and BTC reclaimed the $101,000 level during Monday morning trading in Asia.
“This Weakness Shall Pass”
BitMEX co‑founder Arthur Hayes, speaking on X (formerly Twitter), offered reassurance:
“This weakness shall pass and $BTC will leave no doubt as to its safe haven status,”
attributing the rebound potential to continued central-bank liquidity creation.
Pullback or Pause?
Markus Thielen, Head of Research at 10x Research, noted that as long as Bitcoin remains between its short‑term realized price ($98K) and trend‑line support ($102K), traders are likely to find "tactical rally opportunities.” He cautioned, however, that a breakdown below these levels would shift the narrative toward risk control—especially absent fresh bullish catalysts.
Bitcoin has been range-bound for five weeks, having failed three times to breach $110,000 after macroeconomic shocks like tariff concerns and the Israel-Iran escalation . Thielen anticipates this consolidative phase persisting through the summer.
Strong Institutions, Altcoins Waiting in the Wings
Despite short-term volatility, institutional interest appears strong. Eugene Cheung, CCO at asset platform OSL, emphasized that BTC’s swift rebound post-tension suggests "strong institutional support and long-term bullish sentiment," further bolstered by structural demand for both Bitcoin and Ether.
Meanwhile, Nick Ruck of LVRG Research believes altcoins may gain momentum if macro uncertainty stabilizes:
“The coming months could see altcoins outperform if macro conditions stabilize and crypto-specific catalysts gain traction.”
At the time the article was written, the broader crypto market was down about 1.5% (~$50 billion), with total capitalization hovering around $3.21 trillion.
Bottom Line
Geopolitical jitters triggered a brief dip below $100K—but the drop quickly corrected.
Arthur Hayes deems the pullback temporary, with broader fiscal expansion likely to support BTC's safe‑haven appeal.
As long as BTC remains above about $98–102K, traders may still find short‑term rally plays.
Institutional accumulation continues, while altcoins could lead the charge if global conditions stabilize.