Bitcoin Traders Take Profits as Markets Await Final US-Iran Peace Agreement

Bitcoin showed signs of caution on June 16 as traders locked in profits and waited for further confirmation of a proposed US-Iran peace agreement. While global markets reacted positively to easing geopolitical tensions, cryptocurrency gains remained limited.

Bitcoin briefly climbed above $67,000 before retreating below $66,000, trading near $65,845. Btc was up 0.3% over 24 hours and nearly 5% for the week. Ether outperformed Bitcoin, rising 2.8% to $1,764, while Solana gained 3.2%.

Iran Deal Supports Stocks but Crypto Investors Remain Careful

Investor sentiment improved after US President Donald Trump and Vice President JD Vance signed an electronic memorandum of understanding with Iran. Trump also stated that the Strait of Hormuz is expected to fully reopen on June 19.

The development pushed Brent crude oil below $82 per barrel, while the S&P 500 gained 1.7% and the Nasdaq 100 advanced 3.1%. However, analysts noted that Bitcoin has not responded with the same level of enthusiasm.

Axis co-founder and COO Jimmy Xue said traders remain cautious because previous ceasefire attempts failed to hold. He noted that many investors are waiting for the formal signing ceremony in Switzerland before treating the agreement as a lasting breakthrough.

ETF Flows and Central Banks Remain Key Market Drivers

Institutional demand also remains uncertain. US spot Bitcoin ETFs recently ended four consecutive weeks of outflows totaling about $5.4 billion, including a record weekly withdrawal of nearly $3.4 billion.

Market participants are now focused on upcoming central bank decisions. The Bank of Japan has already raised interest rates to 1%, while investors are closely watching the US Federal Reserve’s policy announcement. Together with the expected Iran deal signing, these events could determine Bitcoin’s next major move.