Bitcoin Stays Above $66k Post US-Iran Deal
Bitcoin pared some gains on Monday but stayed in positive territory, climbing 1.8% to $66,468.8 as of 17:37 ET (21:37 GMT). The price stability followed the announcement of a U.S.-Iran interim peace deal, which is expected to end hostilities immediately, reopen the Strait of Hormuz within 30 days, and initiate dialogue on Iran’s nuclear ambitions and the unfreezing of Iranian assets held abroad.
The peace agreement sparked a broader risk‑on rally: Wall Street indices surged, oil prices fell more than 4%, and U.S. Treasury yields slipped as investors moved into bonds.
Corporate Bitcoin Purchase
Top corporate Bitcoin holder Strategy disclosed in a regulatory filing that it purchased an additional 1,587 BTC between June 8 and June 14, spending roughly $100 million at an average price of $63,024 per coin. The acquisition brings Strategy’s total holdings to 846,842 BTC. Co‑founder and executive chairman Michael Saylor stated that the stash is now valued at approximately $56 billion, reflecting an average cost of $75,656 per Bitcoin and a total outlay of about $64.1 billion when fees and expenses are included.
Bitcoin ETF Outflows
Institutional outflows from spot Bitcoin exchange‑traded funds eased slightly, with $315.8 million withdrawn last week. Despite the moderation, this marks the fifth straight week of net outflows and is markedly lower than the more than $1 billion weekly outflows recorded over the preceding four weeks. The continued outflow pressure limited any substantial price recovery after Bitcoin had slumped to annual lows earlier in the month.
Broader Crypto Market
Altcoins mostly advanced on the same day. Ether rose 5.8% to $1,817.01, XRP climbed 6.9%, Cardano increased 3.6%, Solana gained 6.2%, and BNB was up 0.8%. Among meme tokens, Dogecoin edged higher by 0.3% while $TRUMP slipped 3.3%.
Authors: Vahid Karaahmetovic and Anuron Mitra