Bitcoin Holds $67K Range While Ethereum and Solana Lead Market Momentum

Bitcoin News: BTC climbed to a session high of $67,217 on Monday before easing back to around $66,500 on Tuesday, delivering just a 0.3% gain over 24 hours—well below what broader macro momentum would typically justify.

Renewed optimism around a potential Iran agreement lifted the S&P 500 by 1.7% and the Nasdaq 100 by 3.1%, yet crypto markets failed to mirror that strength. The divergence between equities and Bitcoin signals a clear lack of conviction among traders.

The conclusion is straightforward: markets are not dismissing the Iran narrative, but they are not willing to fully price it in. After two earlier ceasefire-driven rallies that ultimately reversed this year, participants are waiting for concrete confirmation—specifically the anticipated June 19 signing in Switzerland—before treating the development as sustainable.

Bitcoin News: BTC Decouples from Risk-On Signals

On Monday, President Donald Trump and Vice President JD Vance signed an electronic memorandum of understanding with Iran, with Trump stating that the Strait of Hormuz—already partially reopened—would be fully operational by Friday.

Oil markets reacted sharply, with Brent crude sliding below $80 per barrel in its steepest one-day drop in over two weeks. Risk assets followed, as Asian equities surged more than 3% and US stocks rallied strongly.

Bitcoin, however, remained largely unmoved. Jimmy Xue, co-founder and COO of Axis, highlighted the disconnect: despite a more than 4% drop in oil and strong equity gains, BTC barely reacted. He described the move as a “relief bounce the market hasn’t fully committed to,” rather than a decisive shift into risk-on positioning.

A deeper reading of the Hormuz agreement reinforces this caution. For geopolitical relief to translate into sustained crypto demand, stronger structural confirmation is needed—something the market has yet to receive.

This hesitation is grounded in recent price action. Bitcoin initially rallied following the April ceasefire but later erased those gains, with a similar pattern unfolding after the June 9 escalation faded. Now, with a third attempt at de-escalation, uncertainty remains elevated. Trump also warned the deal could collapse if Iran refuses to halt its nuclear program, reinforcing doubts about its durability. Markets are not ignoring the development—they are discounting its longevity.

ETF Outflows Reflect Weak Institutional Support

Demand conditions remain fragile. US spot Bitcoin ETFs have recorded four consecutive weeks of outflows totaling roughly $5.4 billion, including a record weekly withdrawal of nearly $3.4 billion.

Although the outflow streak has recently paused, there is little evidence of a strong institutional return. Profit-taking during Monday’s overnight session further underscores the lack of sustained buying pressure, with no meaningful bid stepping in to absorb supply on the upside.

One supportive trend is the continued migration of Bitcoin off exchanges into cold storage, gradually tightening available supply. While structurally positive, this reflects supply-side dynamics rather than a clear demand recovery.

Altcoins Lead as Capital Rotates

Ethereum and Solana outperformed on the day, with ETH rising 2.8% to $1,784 (up 5.8% on the week) and SOL gaining 4.4% to $75.

Ethereum’s rebound following the Hormuz developments points to selective risk appetite rather than a broad crypto rally. The outperformance of altcoins suggests capital rotation rather than renewed institutional focus on Bitcoin.

XRP and HYPE also advanced 3.2% and 6.3%, respectively, reinforcing the view that while gains are spreading across the market, they remain relatively shallow from a Bitcoin-centric perspective.