Bitcoin Rises Toward $65K as US-Iran Uncertainty Limits Rally
Bitcoin moved higher on Monday, although geopolitical uncertainty prevented the cryptocurrency from extending its recovery.
Investors assessed conflicting signals from the latest US-Iran peace negotiations. At the same time, continued capital outflows from the cryptocurrency market kept sentiment under pressure.
Bitcoin rose 1.6% to $65,137.60 by 9:33 a.m. ET, or 1:33 p.m. GMT. The world’s largest cryptocurrency had approached the $65,000 level over the weekend but struggled to maintain its momentum by Monday.
Crypto Investors Shift Toward AI Stocks
The broader cryptocurrency market continued to underperform other risk-sensitive assets.
Many investors increasingly favored high-performing artificial intelligence stocks, which appeared to offer clearer earnings prospects and stronger underlying fundamentals.
Meanwhile, US spot Bitcoin exchange-traded funds recorded a sixth consecutive week of net outflows. The prolonged withdrawal streak indicated that institutional demand for Bitcoin remained weak.
As a result, positive developments in the US-Iran negotiations provided only limited support for cryptocurrency prices.
US-Iran Talks Show Signs of Progress
Iranian officials reported some progress following negotiations with the United States in Switzerland over the weekend.
Qatar and Pakistan, which are mediating the discussions, also expressed cautious optimism. According to the mediators, Washington and Tehran agreed to begin technical discussions on their 14-point framework during the week.
The diplomatic progress helped improve risk appetite and limited losses across the cryptocurrency market.
However, significant disagreements remained unresolved.
Trump Warns Iran of Further Military Action
Positive comments surrounding the negotiations followed fresh warnings from US President Donald Trump.
Trump threatened to resume military strikes against Iran unless Tehran acted to restrain Hezbollah’s activities in Lebanon.
The continuing conflict between Israel and Hezbollah in southern Lebanon remained one of the biggest obstacles facing the peace process.
Iran repeatedly argued that Lebanon and Hezbollah must form part of any broader agreement. Tehran also restricted access through the Strait of Hormuz over the weekend in response to recent Israeli military action.
Therefore, traders remained cautious despite signs that the diplomatic talks were moving forward.
Strategy Purchases Another 520 Bitcoin
Strategy continued expanding its Bitcoin holdings despite the cryptocurrency’s recent weakness.
The Bitcoin treasury company purchased an additional 520 BTC between June 15 and June 21. It spent approximately $34.9 million on the acquisition, paying an average price of $67,068 per coin.
The latest purchase increased Strategy’s total holdings to 847,363 BTC. At the reported market price, the company’s Bitcoin portfolio was valued at approximately $54.8 billion.
Strategy has spent around $64.1 billion building its position, including related fees and expenses. Its average acquisition cost now stands at $75,651 per Bitcoin, according to co-founder and Executive Chairman Michael Saylor.
Strategy Expands Its Cash Reserve
The company also reported an increase in its US dollar reserve.
Strategy’s cash reserve reached $1.4 billion as of June 21, compared with $1.1 billion one week earlier.
The increase included expected proceeds from shares sold through the company’s at-the-market equity program that had not yet settled.
The larger cash position could provide Strategy with additional flexibility as it continues managing its Bitcoin-focused treasury strategy.
Ethereum and Major Altcoins Move Higher
Most leading altcoins also recorded modest gains on Monday, despite the limited number of cryptocurrency-specific catalysts.
Ethereum, the world’s second-largest cryptocurrency, climbed 2.2% to $1,763.99.
XRP gained approximately 1%, while BNB advanced 2%. Solana increased 0.7%, and Cardano rose 0.3%.
Among major meme coins, Dogecoin climbed 1.4%. However, the Official Trump token fell by around 0.4%.
Although the wider cryptocurrency market moved higher, investors continued to monitor institutional outflows, geopolitical developments and demand for AI-related equities.
