Overview
- Reports of a preliminary memorandum of understanding between the U.S. and Iran over the weekend that would reopen the Strait of Hormuz removed a major energy-risk premium and pushed crude prices down to about $80–$85 per barrel, triggering a broad risk-on move on Monday.
- Bitcoin climbed back into the mid-$60,000s and ether moved into the low $1,700s as traders covered shorts and rotated into higher-risk assets, though both face clear technical resistance near $67,500 and $1,700 respectively.
- U.S. spot Bitcoin ETFs have recorded several billion dollars of net outflows since mid-May, even though the outflow streak slowed and funds registered small single-day inflows in recent sessions.
- On-chain and custody data show selective large-holder accumulation, including roughly 11,400 BTC moved off exchanges, about 500,000 ETH withdrawn, and disclosed corporate buys of roughly 1,550–1,587 BTC by Strategy.
- Markets remain fragile because the MOU is preliminary with a formal signing in Switzerland planned for June 19, and the Federal Reserve’s policy meeting this week could reverse the relief rally if it signals tighter conditions.