Bitcoin's price has experienced a notable decline, falling below the $100,000 mark amid escalating geopolitical tensions between the United States and Iran. The cryptocurrency first dipped under $103,000 on June 21, 2025, and continued to decline over the following days, briefly falling below $99,000. This downward trend coincided with U.S. military strikes on Iranian nuclear sites and Iran's parliament approving a plan to close the strategically vital Strait of Hormuz. The closure threat and subsequent missile attacks by Iran on U.S. army bases in the Middle East have heightened market uncertainty, triggering a sell-off in the cryptocurrency market and over $1 billion in liquidations. Despite some brief rebounds, Bitcoin has repeatedly slipped below the six-figure threshold, reflecting macro-driven volatility and thin liquidity conditions in the market.