The recent tension in the Middle East - particularly between Iran and Israel - seems to be reshaping how Bitcoin (BTC) reacts to global events.

Initially, BTC was responding mostly to buyer momentum, trading steadily. But on June 22, things changed dramatically. Iran launched missiles at Israel, followed by Israel’s retaliation, causing a sharp drop in BTC price, dipping below $99K.

Then, on June 23, an Iranian nuclear plant was reportedly hit. Instead of another dip, BTC reacted bullishly - breaking the usual war-dip pattern. The following day, June 24, BTC continued to climb after former U.S. President Donald Trump called for a ceasefire, calming market fears and boosting risk appetite.

While analyzing charts via TradingView on BingX, I noticed:

A strong resistance forming around $106K. If broken, BTC may push toward $107,500 and $109K.

On the downside, if support at $104K fails, BTC could fall to around $102,200.
There was liquidation on those traders who sort BTC yesterday due to surge in price movement majorly as a result of the ceasefire announcement.

I also ran a check using BingX AI to get insights into possible fundamental impacts. The AI hinted that current events are playing a strong role in BTC’s behavior.

So the big question remains:
Is BTC still mainly driven by trader activity and technical patterns, or are we seeing a shift where global fundamental events - like wars and diplomacy - are steering the market?