MarketsBitcoin Stabilizes Near $64,000 Amid US-Iran Ceasefire Talks and Hormuz Tensions
Bitcoin showed resilience over the weekend, recovering toward $64,000 following a sell-off on Friday. Ceasefire negotiations in Switzerland begin, but Iran's renewed threat to close the Strait of Hormuz introduces uncertainty around the deal.
By Shaurya Malwa Jun 21, 2026, 6:46 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on
SummaryShow- Bitcoin traded around $64,200 during the weekend, recovering some of Friday’s losses but remaining relatively unchanged for the week.
- Most major cryptocurrencies stabilized, with ether, solana, and tron showing weekly gains, while dogecoin struggled and Hyperliquid’s HYPE emerged as a notable performer.
- Market attention is on US-Iran ceasefire discussions in Switzerland and Iran’s renewed threats regarding the Strait of Hormuz, which could impact oil prices and risk assets, including bitcoin.
Bitcoin remained steady near $64,000 over the weekend, recovering from part of Friday's decline, as traders considered the commencement of US-Iran ceasefire discussions alongside Iran's renewed threats regarding the Strait of Hormuz.
On Sunday, the cryptocurrency traded at about $64,200, reflecting a 0.9% increase over the last 24 hours but showing little change for the week, according to CoinDesk data, after dipping below $63,000 on Friday. Other major cryptocurrencies also firmed in response.
Ether experienced a 0.5% daily rise and a 3.3% weekly increase to reach $1,734, while solana climbed 1.5% to $73 and tron added 1.2%. Hyperliquid's HYPE saw a minor 2% drop on the day but remained a standout performer for the week with a 14.8% increase. Dogecoin, in contrast, was the weakest among the major cryptocurrencies, declining 4.9% over the week.
This week, bitcoin's price has remained largely stable, initially rising on news of the signed Iran deal, then experiencing a sell-off on Friday amid broader market risk aversion, before stabilizing over the weekend.
The focus this weekend is in Switzerland, where US and Iranian officials, including Vice President JD Vance, are set to initiate discussions on a permanent ceasefire, as reported by Bloomberg.
The negotiations are a follow-up to a memorandum of understanding that President Donald Trump signed last week, which established a 60-day period that may be extended.
However, the situation remains precarious, as Iran has issued renewed orders to close the Strait of Hormuz, a critical shipping point. The reopening of this strait under the previous agreement contributed to a 9% decline in oil prices last week and provided a boost to risk assets.
Tehran is sending negotiators to Switzerland while simultaneously threatening to shut the strait again, leaving the market with the same uncertainties the signed deal was intended to resolve.
This leaves the cryptocurrency market in a familiar position, largely range-bound and awaiting developments beyond its control.
If the Strait of Hormuz were to be genuinely closed, it could lead to a spike in oil prices and likely drag down risk assets, including bitcoin. Conversely, a lasting ceasefire could alleviate the current market tensions.
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CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By CoinDesk ResearchJun 15, 2026In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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