Yeliz Akmaca 
The cryptocurrency market began the new week with sharp declines. The total market capitalization dropped by $36 billion, falling to $3.06 trillion. This drop followed Sunday’s $138 billion losses triggered by the U.S. attack on Iran.
The market remained below the critical resistance level of $3.09 trillion. If this level is not reclaimed, the market cap could fall further to $3.00 trillion. Failing to hold this support increases the potential for further losses. However, if the $3.09 trillion level is broken, the market value could rise to $3.16 trillion. Geopolitical tensions in the Middle East have put pressure on investors, maintaining uncertainty in market sentiment.
Bitcoin Holds at $101,000 Support
Bitcoin tested below $99,000 over the weekend due to the U.S.-Iran conflict. It quickly recovered to $101,102. If this level holds, Bitcoin could rise to $102,734, signaling potential recovery for the market. If it fails to stay above $100,000, the price could drop to $98,000. These critical levels represent significant risk points for investors.
Additional Market Data
In the last 24 hours, $875 million worth of liquidations occurred in the crypto market. This high liquidation volume indicates increased volatility and market risk.
As Bitcoin tested below $99,000, major altcoins like Ethereum and Solana also experienced double-digit losses. Around 380,000 investors had to close their leveraged positions. Of these, $233 million were Bitcoin positions, and $175 million were Ethereum. A total of $304.03 million in positions were liquidated in the last 24 hours—$230.85 million in long and $73.18 million in short trades. The largest liquidations occurred in the BTC-USDT (OKX) pair at $4.06 million, ETH-USDT (Binance) at $2.96 million, and ETH-USDT (OKX) at $2.50 million.
Geopolitical uncertainty is increasing market volatility and causing investors to act cautiously. At the time of writing, Bitcoin is trading at $101,850.
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