Bitcoin dropped 6.8% over the past week and hovered near $59,700, showing little response to signs of easing tensions between the US and Iran. Risk appetite improved in equity futures, but crypto prices stayed soft, extending the weak pattern seen over the last two weeks.
US-Iran pause lifts stock futures, not digital assets
Axios reported that the US and Iran agreed to a full pause in attacks and are expected to meet in Qatar this week to resume talks on the Strait of Hormuz and wider regional issues. On Monday, S&P 500 futures and Nasdaq 100 futures both rose 0.5%. Bitcoin, however, barely moved. The article noted that while the expected Qatar talks supported equity index futures, the same development failed to trigger a clear reaction in crypto.
Ether and Solana rise modestly while XRP and Dogecoin lag
Major tokens turned in mixed performances. Ether added 0.3% to reach $1,572, and Solana gained 1.5%. XRP and Dogecoin continued to underperform. That split suggests a calmer geopolitical backdrop on its own is not enough to reverse the broader negative trend in digital assets. There were pockets of strength. They did not reshape the market tone.
Fed policy and spot ETF outflows remain central
The muted response fits the trading pattern of the previous two weeks. Bitcoin briefly rallied after the ceasefire agreement on June 19, but pressure persisted from the Federal Reserve’s hawkish stance and ongoing outflows from US spot ETFs. Analysts said earlier relief rallies faded quickly, which makes traders less willing to chase another geopolitical bounce ahead of this week’s meeting in Qatar.
Macro signals are still carrying more weight. According to the report, Bitcoin may need two conditions to improve its direction this week: a meaningful outcome from the Qatar talks and a softer-than-expected US PCE inflation reading due on Thursday. Without support from both, price gains may remain limited.
Asian tech rotation adds to broader market caution
In Asia, South Korea said DRAM production capacity in the Seoul metropolitan area will double over the next five years. Samsung and SK Hynix pledged a combined 800 trillion Korean won, or about $518 billion, to build four new production facilities. SK Hynix drew attention for its focus on AI memory and high-bandwidth capabilities.
Even so, technology hardware shares in Asia declined as sector rotation continued. Eight of the 11 subgroups in the MSCI Asia Pacific index posted gains, yet the global volatility tied to the AI chip theme last week kept affecting multiple asset classes. For crypto, better sentiment elsewhere has not translated into a decisive recovery, with traders still waiting for clearer macro and policy signals.