- Bitcoin nears key support zones amid volatility from escalating Middle East tensions
- Ethereum and Cardano face critical retests as selling pressure tests key levels
- Macro factors and policy shifts suggest long-term bullish outlook despite short-term fear
As geopolitical tensions escalate across the Middle East, global markets are reacting with swift and significant volatility. According to Dan Gambardello, an analyst analysis, Bitcoin, Ethereum, and Cardano, three of the most watched cryptocurrencies, are all taking sharp hits. Amid rising oil prices and a flight to the safety of gold, digital assets are faltering. This comes as Israel escalates its military response against Iran, sending markets into a tailspin.
Investors are grappling with the impact of global conflict on risk assets, including crypto. While traditional safe-haven assets see inflows, Bitcoin and altcoins are fighting to hold technical support levels. Consequently, this reaction adds more fuel to the ongoing debate over whether cryptocurrencies can serve as true safe havens during crises.
Crypto SLAMMED by Global Chaos: Bitcoin Drops, ETHEREUM & CARDANO Hit Hard
— Dan Gambardello (@cryptorecruitr) June 13, 2025
Intro 00:00
Oil, gold, and Bitcoin 1:00
Bitcoin structural setup 1:50
BTC price targets 3:00
Ethereum price targets 4:30
Cardano support & targets 8:15 pic.twitter.com/T2h5Kx0vRF
Bitcoin Eyes Critical Support Zones
Bitcoin, which recently touched $104,000, is now hovering near its 50-day moving average. Market watchers are closely monitoring the structural setup that suggests an inverse head-and-shoulders pattern.
However, the formation remains incomplete. A deeper pullback to the 200-day moving average around $95,000 remains in play.
Historically, these patterns take time to mature and often align with macroeconomic triggers. If Bitcoin dips further, it might even form a more structurally sound right shoulder, which could strengthen the bullish reversal narrative. Besides, the volatility caused by world events could accelerate such technical formations.
Ethereum and Cardano Facing Crucial Retests
Ethereum’s price action is currently shaped by a long-term symmetrical triangle. After a failed breakout attempt, it’s now retesting lower support near $2,400.
If selling pressure persists, Ethereum could fall toward the $2,000 mark. That would represent a nearly 20% correction from its recent highs. Yet, strong institutional interest remains, and heavy ETH accumulation continues, which could provide a strong base if the price tests macro Fibonacci levels near $1,900.
Cardano (ADA), meanwhile, is struggling to hold support at the $0.64 level, with current prices slipping to around $0.58. ADA’s volatile nature makes these levels especially critical. If it loses this footing, the next support lies near April’s swing low.
Historically, ADA has broken key Fib levels only to sharply reverse later. Hence, traders are eyeing oversold signals on momentum indicators for potential bounce setups.
Macro Outlook Remains Bullish
Despite short-term pressure, the broader macro landscape remains favorable for crypto. Federal Reserve policy, improving U.S. economic indicators, and pending pro-crypto legislation such as the GENIUS Act signal long-term strength.
Moreover, if markets stabilize and these legislative moves materialize, the current dip could serve as a major accumulation phase.
