MarketsJun 15, 2026
Bitcoin Bounces on the Iran Deal but the Fed Looms as the Next Test
Market Relief
Rhea Lobo
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Bitcoin surged to its highest point in nearly two weeks on June 15 after the US and Iran announced a ceasefire agreement to reopen the Strait of Hormuz.
The token climbed roughly 5.1% to $67,250, its best level since early June, as risk appetite returned across global markets.
Ether jumped nearly 11% at one point to roughly $1,850. Solana and XRP each gained more than 8%.
Bitcoin had fallen below $60K earlier this month, its lowest reading since October 2024. It's down sharply from an all-time high of $126K reached last October.
Strategy managed to buy the dip. The company purchased 1,587 BTC at an average price of $63K in the past week. It spent $100M just before prices surged.
The purchase was funded through a sale of common stock that also raised $100M. That lifted the company's cash reserves to $1.1B.
Strategy's total holdings now stand at 846.8K BTC, worth roughly $56B. That represents about 4% of the total circulating supply, per CryptoProwl.
The timing helped repair some reputational damage. Earlier this month, news that Strategy had sold 32 BTC, its first such sale in four years, unsettled markets and contributed to a broader selloff alongside significant ETF outflows.
Daniela Hathorn, senior market analyst at Capital.com, said crypto had traded like a high-beta risk asset throughout the conflict, with geopolitical uncertainty coinciding with ETF outflows, higher yields, and weaker sentiment.
She noted that a successful agreement removes one of the major macro risks hanging over markets and could support broader risk appetite, particularly if it contributes to lower oil prices, per Bloomberg.
Oil dropped roughly 5% on news of the deal. It's hovering near $80 a barrel.
Not everyone is ready to call a bottom. "ETF flows are sluggish at best," said Nic Puckrin, a macro and cross-asset analyst at Coin Bureau.
He warned the move could be a dead-cat bounce unless Bitcoin decisively breaks above $70K. It would also need to reclaim prior support near $74K, per Yahoo Finance.
Geoffrey Kendrick, global head of digital-assets research at Standard Chartered, takes a more constructive view. He's watching $83K as the next important level for Bitcoin, per Bloomberg.
The more immediate question is the Federal Reserve. Kevin Warsh chairs his first Fed meeting this week, with markets pricing a shift from easing toward a neutral or hawkish stance.
"A hawkish surprise is the main downside risk for crypto" this week, said Sean McNulty, Asia-Pacific derivatives trading lead at FalconX, per Bloomberg.
"I think it's ultimately going considerably higher," said Rick Rieder, BlackRock's chief investment officer of global fixed income, about Bitcoin, per Bloomberg TV.
Whether the ceasefire marks a genuine turning point for crypto or a brief relief rally depends on what the Fed signals in the days ahead.
