Bitcoin dips to $59,700 as Iran de-escalation lifts stocks but not crypto
U.S. equity futures rose after reports the U.S. and Iran agreed to halt strikes and resume talks. Bitcoin has barely moved, still down 6.8% on the week.
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U.S. equity futures rose after reports the U.S. and Iran agreed to halt strikes and resume talks. Bitcoin has barely moved, still down 6.8% on the week.
BTC sees a relief bounce as Asian stocks wilt following sharp losses on Wall Street.
A liquidation flush took bitcoin to its lowest since early June before Micron’s blowout earnings and SK Hynix’s U.S. listing plans steadied the AI trade that crypto had been sliding alongside.
Trading firm Wintermute’s options desk puts bitcoin in a $61,242 to $63,563 range for Tuesday, with correlation rising across tokens and no fresh ETF bid in sight.
After nearly two years of declines, alts have run out of sellers and steadied, while bitcoin has dropped hard, sliding back toward $63,600.
Eased ETF selling and improving risk appetite are being offset by a firmer dollar and cautious institutional flows, leaving bitcoin range-bound, one analyst said.
About 20% of miners are now unprofitable, and publicly traded miners sold more than 32,000 bitcoin in the first quarter to cover operating costs, more than they offloaded in all of 2025.
Total market value has held flat near $2.26 trillion since Tuesday, with the recovery losing momentum after the Fed killed rate-cut hopes and spot ETFs swung back to outflows.
Bitcoin’s Sharpe ratio hit a level that has marked every cycle low since 2015, but in each case it preceded months of basing rather than an immediate rebound.
Ether, XRP, Solana and Hyperliquid funds all took in money, but bitcoin’s outflow was really just Grayscale’s GBTC.