Bitcoin rebounds above $63,000 on Iran optimism
Bitcoin recovered to $63,814.1 at 03:53 ET (07:53 GMT), up 1.14% and moving back above the $63,000 level after a sharp sell‑off that had pushed it below $60,000 for the first time since November 2024. The price rebound occurred as U.S. officials signaled progress toward a potential U.S.–Iran peace agreement, raising expectations that the Strait of Hormuz could reopen and easing pressure on global energy markets. The improved risk appetite also benefited growth‑oriented assets, notably the Nasdaq debut of SpaceX, whose shares surged about 19% in their first trading session.
MicroStrategy, the largest corporate holder of Bitcoin, disclosed that it sold 32 BTC for approximately $2.5 million between 26 May and 31 May to fund dividends on its STRC preferred shares. Market participants described the sale as symbolic, given the modest size relative to MicroStrategy’s total holdings.
The U.S. Securities and Exchange Commission approved NYSE Arca’s proposal to list and trade shares of the T. Rowe Price Active Crypto ETF, an actively managed fund that will invest in digital assets such as Bitcoin, Ether, XRP, Solana and Dogecoin, marking another step in the expansion of regulated crypto investment products in the United States.
Altcoin prices were broadly higher. Ether traded at $1,676.53, up 0.87% for the day and 5.70% for the week. XRP rose 0.70% to $1.1413, posting a 3.89% weekly gain. Solana and Cardano added 1.56% and 2.42% respectively. Among meme coins, Dogecoin increased 1.32% and $TRUMP surged more than 21.5%.
Despite the weekly recovery, Bitcoin remains roughly 50% below its October 2025 record high of about $126,000.