Bitcoin stays near $64,000 as U.S.-Iran peace talks advance while crypto market struggles to gain traction
Bitcoin started the week near $64,000, unable to join a rally in Asian equities amid US-Iran peace talks.The token was trading around $63,996 on Monday, down 0.4% in 24 hours and 2.2% for the week, according to CoinDesk data.
Peace talks progress
The broader market showed mixed performance, with Solana rising 3.7% to $74 and Tron up 2.2%.
Ether remained stable at $1,733, while BNB dropped 4.2%, XRP fell 4.3% to $1.13, and Dogecoin saw a 6.5% decline.
Hyperliquid’s HYPE, a highlight of early June, fell 5% today, cooling to a 1.9% weekly gain.
Encouraging macro developments failed to boost crypto prices, even as the US and Iran moved closer to a peace deal within 60 days.
Brent crude prices fell 1.7% to about $79 a barrel, reflecting market sentiment.
An MSCI gauge of Asian stocks increased 0.6%, buoyed by a technology rally linked to optimism over artificial intelligence.
US futures showed weaker performance, with S&P 500 contracts down 0.5%.
Mediators Qatar and Pakistan reported progress in the talks, including measures for safe navigation through the Strait of Hormuz.
Despite this positive news, the talks had a rocky start on Sunday as Iran paused discussions after threats from President Donald Trump against Hezbollah.
Bitcoin has closely tracked risk assets amid the evolving Iran situation but is starting the week flat as markets rise.
The upcoming challenge will be whether the 60-day roadmap will hold and if cryptocurrency can reconnect with the risk-on sentiment.
Market outlook uncertain
Current trends suggest Bitcoin might remain within its recent range below early June levels.
