Bitcoin Stabilizes Above $100,000 as Iran Tensions Ease

Bitcoin has stabilized above $100,000 as the initial volatility from the U.S. strikes on Iran's nuclear facilities begins to subside. This stabilization comes as equity futures remain flat and gold prices show only marginal increases, indicating that traders are not yet pricing in a broader escalation of tensions. The lack of significant follow-through in traditional markets suggests that investors expect Iran’s response to be contained or delayed rather than immediate and destabilizing.

Crude oil prices have held near $76 per barrel, reflecting fears that Iran could block the Strait of Hormuz, a critical chokepoint for global oil shipments. However, muted early-week trading and commentary from U.S. officials suggest that investors are adopting a wait-and-see approach. In the crypto markets, altcoins such as ETH, XRP, and SOL, which had mirrored Bitcoin's weekend drop, are also recovering their losses. Analysts maintain that Bitcoin's broader bull market structure remains intact as long as it holds the $85,000 support level, with buyers stepping in at $95,000 and the next technical resistance at the recently lost $100,000 mark.

Crypto exchange OKX is reportedly considering a public listing in the U.S. This move comes after the exchange announced a U.S. expansion earlier this year, following a settlement with the Department of Justice over accusations of operating without a money transmitter license. The potential IPO reflects the growing investor appetite for companies with exposure to digital assets, a trend also seen with competitors like Bullish, the parent company of CoinDesk. OKX has not commented on the matter.

Polymarket bettors are becoming less certain about the likelihood of a second U.S. strike on Iran before the end of the month. The 'yes' side of a contract asking if the U.S. will conduct another military action on Iran by June 30 has dropped to 54% from 74% in the hours after the initial strike. This shift suggests a growing market belief in deconfliction efforts on both sides, as evidenced by another contract asking about the likelihood of Iran closing the Strait of Hormuz, which is currently trading at 49%, down from 52%.