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Crypto Market News

06/16 06:18

Profit-taking across bitcoin, ether, solana as tra

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Bitcoin briefly topped $67,000 but is lagging the broader relief rally in stocks and oil as traders treat the tentative Iran peace deal with caution. Analysts say crypto investors are wary after two prior cease-fire rallies quickly reversed, and many are waiting for the June 19 signing and this week’s Federal Reserve decision before committing. Spot bitcoin ETFs have just emerged from four weeks of heavy outflows, suggesting institutional demand remains muted even as coins quietly move off exchanges into cold storage. Bitcoin briefly traded above $67,000 late Monday before slipping back under $66,000 in a move that is indicative of how cautiously crypto is treating the Iran peace deal that has rallied other markets. The token changed hands at $65,845 on Tuesday, up 0.3% over 24 hours and 4.8% on the week, per CoinDesk data. It touched a 24-hour high of $67,217 before fading. Ether held up better, rising 2.8% on the day to $1,764 and 5.8% on the week. Solana gained 3.2% to $73, XRP added 3.2% to $1.22 and Hyperliquid's HYPE led the majors again, up 6.3% to $69. The macro backdrop turned sharply friendlier on Monday. President Donald Trump and Vice President JD Vance signed an electronic copy of a memorandum of understanding with Iran, and Trump said the Strait of Hormuz, already partially open, will fully reopen on Friday. Brent crude slipped below $83 a barrel after its biggest drop in more than two weeks. The S&P 500 added 1.7% on Monday and the Nasdaq 100 rose 3.1%. Yet bitcoin has not moved like an asset pricing in relief. "Oil dropped more than 4% and Asian equities jumped more than 3% on the ceasefire, but BTC barely budged," said Jimmy Xue, co-founder and COO of Axis, said in an emailt. He called it "a relief move that the market hasn't fully bought yet rather than clear risk-on redeployment into Bitcoin." The hesit
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