Overview
- Bitcoin rose back to about $63,000–$64,000 over the weekend after Reuters reported a Friday ceasefire between Israel and Hezbollah and U.S. officials moved to restart talks with Iran in Switzerland.
- U.S. Federal Reserve guidance on June 17 that further rate hikes remain possible cooled investor demand for risky assets and helped trigger the mid‑week selloff that the weekend rebound only partially repaired.
- Data from Galaxy Research shows U.S. spot Bitcoin ETFs posted roughly $6.35 billion in net outflows over the latest 30‑day window, removing a prior source of steady institutional buying.
- Derivatives were a stress point as crypto liquidations topped $1 billion and CoinGlass tracked more than $4 billion of leveraged long positions clustered near the ~$59,000 support, creating a risk of forced selling if that level is retested.
- Traders are watching $62,000 as the key support and $67,000 as the next resistance, with a large options expiry on June 26 and oil moves tied to Hormuz threats likely to determine whether the current bounce becomes a durable recovery.