Overview
- President Trump said the United States and Iran reached a memorandum of understanding over the weekend and a formal signing is scheduled for June 19 in Switzerland, a development markets treated as a provisional ceasefire.
- Global equity indexes jumped while Brent and WTI crude fell about 4% after reports the Strait of Hormuz would reopen, reflecting a sharp easing of energy-related risk.
- Bitcoin traded in the mid-$60,000s with only modest gains even as on-chain firms reported renewed accumulation, and large corporate buyer Strategy confirmed a 1,587 BTC purchase worth roughly $100 million.
- Institutional flow signals remain mixed: U.S. spot Bitcoin ETFs logged a fifth consecutive week of net outflows even though outflows moderated, and derivatives showed rising open interest and firmer basis alongside subdued funding rates.
- Markets are treating the relief rally as tentative and are focused on the June 19 signing and this week’s Federal Reserve decision as the key tests for whether risk appetite and crypto momentum persist.