Bitcoin (BTC) fell to its lowest price this month on June 20, triggering $464 million in liquidations across cryptocurrency markets as geopolitical jitters and heavy selling pressure rattled traders.
Bitcoin dropped to a low of $102,225, reversing the gains recorded earlier in the day after failing to break through resistance above $106,000.
Data from Coinglass shows that more than $466 million in leveraged positions were wiped out in the past 24 hours. Of this, $392.9 million came from long positions while about $73.4 million came from shorts.
Ethereum (ETH) liquidations stood at $157.8 million, outpacing Bitcoin’s $124.1 million over the past 24 hours. Over 130,736 traders were liquidated in the latest wipeout, with the largest single liquidation order occurring on Bybit’s BTCUSD pair valued at $8 million.
As of press time, Bitcoin was trading at $103,122 as bulls attempted to hold above the $102,000 support established earlier this month. Meanwhile, Ethereum was trading at $2,412 after falling to a low of $2,363.
The wider altcoin market mirrored Ethereum’s performance and fell to new monthly lows despite Bitcoin holding above $102,000.
The latest decline coincided with renewed geopolitical tensions in the Middle East, with reports of military strikes reigniting risk aversion across global markets. Equities also traded lower and lingering uncertainty could keep digital assets under pressure in the short term.
Technical analysts warned that if Bitcoin closes below the key $102,000 threshold, it could open the door to deeper losses toward $100,000 or even the mid-$90,000 range. However, the spike in liquidations and extreme negative sentiment might signal a possible short-term bottom if buyers step in to absorb the sell-off.
Bitcoin has been volatile for much of June, repeatedly testing resistance and support between $100,000 and all-time highs. Despite the recent drop, the flagship crypto remains up about 40% year-to-date, supported by strong institutional demand and new exchange-traded fund flows earlier this year.
Markets will be watching closely for signs of stabilization over the weekend, with attention focused on whether Bitcoin can hold above psychological support at $100,000, a level traders view as critical for keeping bullish momentum intact.
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