Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week
Bitcoin rose into the third week of June as prospects for a US-Iran peace deal boosted risk assets and pushed oil lower. WTI fell below $80 a barrel after reports of a 60-day pause in hostilities and reopening of the Strait of Hormuz, easing a major macro headwind for BTC. Bitcoin hit two-week highs near $65,988 and traders now watch a possible short squeeze toward $69,000, with $60,000 and the 200-week SMA near $62,000 holding as support. Attention also turns to the Fed, where markets expect no rate cut at Wednesday’s meeting despite political pressure. Onchain data is mixed: whale inflows have cooled sharply, suggesting big holders are buying around $61,000 and reinforcing a floor, but CryptoQuant says apparent demand remains negative and futures open interest is falling, leaving the broader bull trend unconfirmed.
