Asia Session: BTC Surges Past $100K While Markets Look Past Iran Conflict

Bitcoin Climbs Back Above $100K as Markets Steady After U.S. Strikes on Iran; OKX Eyes U.S. IPO

Bitcoin reclaimed ground above $100,500 in early Asian trading Monday, as markets calmed following a weekend sell-off triggered by U.S. airstrikes on Iranian nuclear facilities.

After briefly dipping below $100,000 on Sunday, BTC rebounded alongside risk assets as traders appeared to downplay the likelihood of immediate escalation. Equity futures were flat, gold edged slightly higher, and oil held recent gains, signaling a wait-and-see stance across global markets.

The restrained response comes amid speculation that Iran’s retaliation could be measured or delayed. Crude oil remains elevated near $76 a barrel after a 4% spike on Sunday, reflecting fears of potential supply disruptions if Iran were to block the Strait of Hormuz, a key energy transit route.

Major altcoins that tracked Bitcoin’s weekend decline—including Ethereum (ETH), XRP, and Solana (SOL)—also recovered some losses in early Asia trading, though market volatility remains elevated.

OKX Reportedly Planning U.S. Public Listing

Crypto exchange OKX is exploring the possibility of a U.S. initial public offering, according to a report by The Information.

The move comes after OKX resolved regulatory issues with the U.S. Department of Justice earlier this year and signaled intentions to expand into the American market. A listing would place OKX alongside other crypto-native firms seeking to go public, such as Bullish, the parent company of CoinDesk.

OKX declined to comment when reached for confirmation.

Polymarket Traders Reduce Bets on Further U.S.-Iran Escalation

On-chain prediction markets are showing declining expectations of a rapid military escalation between the U.S. and Iran.

Odds on Polymarket for another U.S. strike on Iran by June 30 fell to 54%, down from 74% immediately after the initial bombing. Meanwhile, the likelihood of Iran closing the Strait of Hormuz has dipped slightly to 49%, indicating growing confidence in a diplomatic cooling-off period.

Market Snapshot

• BTC: Bitcoin rose to $101,419, recovering from a volatile 4.5% swing; strong support seen at $99,000 amid steady institutional flows.
• ETH: Ethereum dropped 2.3% to $2,237, breaking out of a six-week consolidation range despite $500M+ in recent institutional accumulation.
• Gold: Bank of America forecasts gold could rally to $4,000/oz within a year, driven by mounting U.S. debt concerns and rising central bank demand.
• Oil: Holding steady near $76 amid supply risk; Strait of Hormuz remains a critical watchpoint.
• Nikkei 225: Down 0.56% as geopolitical tensions and higher oil prices weigh on sentiment across Asian markets.