Crypto markets pause after brief rally, lagging stocks and oil as investors await US-Iran deal signing and Fed decision.
Bitcoin slipped below $66,000 after briefly topping $67,000, reflecting caution among traders despite broader market relief over a tentative US-Iran deal. The token traded at $65,845, up 0.3% on the day but underperforming equities and commodities, which surged on easing geopolitical tensions.
Analysts note crypto investors remain wary after two prior cease-fire rallies reversed quickly. Many are waiting for the June 19 signing and this week’s Federal Reserve meeting before increasing exposure. Spot bitcoin ETFs just ended a four-week outflow streak, signaling muted institutional demand despite coins moving into cold storage.
Ether and other altcoins outperformed, with Ether rising 2.8% to $1,764 and Solana gaining 3.2% to $73. The S&P 500 and Nasdaq 100 extended gains as oil prices retreated on expectations of increased Iranian supply.