Bitcoin holds $100K as fear creeps into markets

June 23, 2025

James Bowater

Takeaways

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📉 Bitcoin holds key $100k level - Bitcoin briefly dipped to a monthly low of $98,000 but quickly rebounded above $100,000, maintaining this important psychological support.

😨 Fear returns to the market - The Fear and Greed Index has slipped into Fear territory as geopolitical tensions in the Middle East weigh on investor sentiment.

📈 Sonic leads altcoin gains - Amid broad market hesitation, Sonic (S) surged 8% over 24 hours, showing pockets of strength in the altcoin space.

🏛️ Texas adopts bitcoin reserve policy - Texas signed the Bitcoin Strategic Reserve Act, allowing state lawmakers to invest in Bitcoin outside of the state treasury.

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Bitcoin yesterday posted a monthly low of around $98,000 before rebounding above the $100,000 level this morning. The move further solidifies the market leader’s position above this key threshold, even as markets feel the pressure of the increasingly volatile situation in the Middle East. Crypto prices took a sharp dive yesterday before regaining some ground overnight, also pushing market sentiment into Fear, as reflected by the Fear and Greed Index.

Despite the uncertainty, crypto markets have held up reasonably well, with the entire market cap down by less than one percent, broadly mirroring the US stock market’s muted performance. There are even a few bright spots among altcoins, with Sonic (S) surging by 8% over the past 24 hours.

Amid the broader geopolitical gloom, there is some positive news for crypto. Texas has signed its Bitcoin Strategic Reserve Act into law, allowing lawmakers to invest in Bitcoin as part of a fund that sits outside the state treasury.

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