Bitcoin has rebounded strongly after a weekend slump that saw its price dip below the $100,000 mark. Triggered by geopolitical tensions in the Middle East, especially the airstrikes of three Iranian nuclear sites by the U.S, shook investor confidence. But, with fear dissipating, the market seems to be regaining its bullish stance. As of this writing, Bitcoin has climbed to $107,000. This recovery puts the asset only 4.5% short of a new all-time high (ATH).
In the wake of things, Dom Harz, the co-founder of BOB – a hybrid Layer-2 project, is confident that the weekend volatility was only a temporary setback in the grand scheme of BTC’s trajectory. He believes that the risk-off reaction in the market should not obscure the maturity of the Bitcoin ecosystem.
Bitcoin Recovers from the Weekend Slump
On June 22, Bitcoin dropped to $98,300 level, following escalations in the war between Iran and Israel as the United States joined in. However, despite the sharp drop, Bitcoin (BTC) has expressed resilience in recent times as the war cools off. As per data by Coingecko, the king crypto has surged to $107,005, marking a 1.8% surge on the day.
The climb back to $107,000 reinforces Harz’s perspective that short-term selloffs are increasingly becoming opportunities for large buyers. For instance, Metaplanet used the dip to add 1,111 BTC to their treasury. On the other hand, Sequans revealed plans to launch its own Bitcoin-focused strategy. These moves, according to Harz, underscore how institutional investors are no longer mere holders but are seeking to “put Bitcoin to work” within DeFi ecosystems.
“Bitcoin’s recent price dip below $100K over the weekend reflects how a risk-off sentiment in the market is triggered amid geopolitical uncertainty,” Harz said. “This dip is not a long-term concern and is merely a distraction from Bitcoin’s true trajectory.”
According to the BOB co-founder, the fundamentals of BTC remain intact. In particular, he noted the growing presence of Bitcoin in decentralized finance (DeFi). Previously, DeFi has been dominated by Ethereum, but BTC is picking up pace.
“While some are fixated on short-term corrections, it is undeniable that Bitcoin and particularly Bitcoin DeFi is ultimately on the rise,” Dom noted.
What’s Next for Bitcoin? Dom Harz Opines
As Bitcoin recovers, Harz has highlighted that the trajectory of Bitcoin is still bullish. He further believes that key drivers such as growing institutional participation, evolving regulations, and rapid innovation, add to the overall sentiment. Based on these factors, DOM is certain that Bitcoin is maturing and entering a new phase.
“What we can say with certainty is that Bitcoin is actively maturing and entering a phase defined by institutional adoption, clearer regulation, and, critically, rapid technological progress,” he remarked.
By bouncing back above $107,000, it shows that market players are ready to ignore short-term Bitcoin price fluctuations. Institutional FOMO and a recent increase in retail optimism is thus offering a plausible bullish sentiment for BTC. This could open the door for a new all-time high.
Key Levels to Watch: New ATH or Another Slip Up?
Although Bitcoin is currently in a state of renewed bullish momentum, the journey past its current ATH at $111,900 will not be without resistance. As per analysis on TradingView, the first significant resistance level is at $109,456. This level has been associated with sell-side pressure previously and may serve as a psychological barrier to the upward price movement.
A surge above this level may trigger a new rally, particularly in the event that macroeconomic and geopolitical risks dissipate. However, to establish a new all-time high, Bitcoin must move beyond the resistance, climbing past $112,000. A new all-time high (ATH) lies only 4.58% above the current mark.
On the downside, the key support at $104,679 will be interesting to observe in case of any retracement. If this level fails, the next critical support lies at $98,389, the weekend’s low. This level now represents a strong accumulation zone based on recent buying activity. But in general, Bitcoin’s weekend volatility appears to have strengthened rather than weakened its market position.
