Bitcoin climbed back to around $65,000 in mid-June, recovering from earlier losses that had driven prices down to nearly $59,000. The rebound was supported by improved risk sentiment following reports that the US and Iran had reached a peace agreement. Both countries indicated they had agreed to end the nearly four-month conflict and reopen the Strait of Hormuz, with the deal expected to be signed later this week.
Despite the recovery, Bitcoin remained under pressure as spot Bitcoin ETFs continued to post significant outflows and institutional demand stayed muted, prompting some analysts to warn of further downside risk. The recent selloff in the cryptocurrency was triggered after Strategy Inc.—one of the largest corporate Bitcoin holders and widely regarded as a proxy for the asset under its digital treasury model—sold part of its holdings, a move that heightened investor sensitivity. The decline also coincided with a shift in institutional capital toward AI-related equities.