Overview
- President Donald Trump said a framework peace agreement with Iran was completed and authorized reopening the Strait of Hormuz, a development that removed a major shipping risk and lifted risk appetite in markets on Monday.
- Crude oil fell roughly 4–5 percent and global equity futures jumped, while Bitcoin rallied to about $65,000–$66,000 as traders unwound war premia and short positions were forced to liquidate.
- Derivatives activity surged during the bounce, with data providers reporting hundreds of millions in liquidations and a rise in open interest that amplified the short-covering move.
- Structural weakness in institutional demand remains: U.S. spot Bitcoin ETFs have recorded multi‑billion dollar net outflows in recent weeks despite a slowdown in outflows last week.
- On-chain data show large holders moving more than 11,400 BTC to cold storage, and the story now hinges on the formal June 19 signing in Switzerland and this week’s Federal Reserve meeting for whether the relief rally will sustain.