Bitcoin rebounds to $72k amid US-Iran tensions, remains in bear market

Bitcoin has rebounded to around $72,000 but remains in a bear market with weak demand and low trading volumes. The odds for Bitcoin reaching $100,000 by December 31, 2026, are at 36.5% YES, up from 31% just 24 hours ago.

The ongoing U.S.-Iran conflict is contributing to risk aversion across financial markets, including Bitcoin. Despite the price rebound, Bitcoin is trading as a risk asset rather than a geopolitical hedge. The $100,000 market saw a 1-point spike at 11:31 PM, moving from 34% to 36%. The $150,000 market is static at 9% YES.

Trading volumes show how thin this market is: $4,214 in actual USDC for the $100,000 target and $214 for the $150,000 target. It takes $8,405 to move the $100,000 market’s odds by 5 points, which means moderate liquidity. There is genuine interest, but a few large orders could still move the odds significantly.

Geopolitical tensions and weak demand point to a bearish outlook for Bitcoin hitting $100,000. There is no strong buying sentiment, and broader regional instability adds pressure. At 36.5% YES, a YES share priced at 36¢ pays $1 if it resolves, a 2.74x return.

Watch for changes in the U.S.-Iran situation, whether de-escalation or increased military action, which would directly affect Bitcoin’s price behavior. Actions by BlackRock, MicroStrategy, and the SEC will also affect these markets.

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