TLDR
- Bitcoin rose 0.4% to $64,129 on Monday, boosted by improving risk sentiment from U.S.-Iran peace talks.
- Spot Bitcoin ETFs recorded six straight weeks of outflows, totaling $5.94 billion, but the pace has slowed sharply.
- Bitcoin has held a weekly close above $63,000 for three straight weeks since hitting a 2026 low near $59,000.
- Bitcoin futures open interest dropped 19.5% from its June peak, while funding rates cooled to 0.02%.
- Analyst Daan Crypto Trades warned that if bulls don’t push toward the 200 EMA soon, a retest of the $60K area is possible.
Bitcoin rose modestly on Monday, gaining 0.4% to reach $64,129.44. The move came after positive signals from U.S.-Iran peace talks helped lift risk sentiment across markets.
The U.S. and Iran signed a memorandum of understanding at the G7 summit in France, declaring a ceasefire and reopening the Strait of Hormuz. A 60-day window for further negotiations was set in place.
Tensions flared again over the weekend when renewed fighting broke out between Israel and Iran-backed Hezbollah in Lebanon. Iran briefly closed the Strait of Hormuz again before talks resumed in Switzerland, where mediators from Qatar and Pakistan helped broker fresh progress.
Bitcoin’s gains were limited by ongoing pressure from the Federal Reserve. Rate hike bets continued to weigh on speculative assets, with capital rotating toward AI-related stocks.
ETF Outflows Are Slowing
U.S. spot Bitcoin ETFs logged a sixth straight week of net outflows. In total, roughly $5.94 billion has left these products over that period.
But the pace has cooled fast. Outflows ran at about $1.72 billion in the first week of June and fell to around $227 million last week, according to Alon Shvartsman, founder of Bitcoin data analytics firm Newhedge.
“If this were the start of a deeper institutional unwind, you would expect accelerating outflows and a much weaker spot market,” Shvartsman told Investing.com. “Instead, Bitcoin is still holding around the $64,000 to $65,000 range.”
Crypto analyst Daan Crypto Trades weighed in on X, noting that Bitcoin had closed the week above the Weekly 200-day moving average. He warned that bulls need to push toward the 200 EMA soon, or a retest of the $60K area becomes more likely. “Some alts have been interesting to trade and have my focus in this environment,” he added.
$BTC With another close above the Weekly 200MA (purple) but failing to really see some relief so far.
If this will just sit here I think it's a waiting game before the $60K area gets tested again.
So bulls better get some upside momentum going and give the 200EMA (blue) another… pic.twitter.com/kH60VfUDst
— Daan Crypto Trades (@DaanCrypto) June 22, 2026
On-Chain Data Points to Stabilisation
Bitcoin has now posted three consecutive weekly closes above $63,000 since tagging a 2026 low near $59,000. Analysts note this mirrors bottom-building patterns seen in prior cycles.
Bitcoin futures open interest fell 19.5% from its June 1 peak of $25.96 billion to $20.89 billion by June 21. That decline outpaced Bitcoin’s own 11.4% price drop over the same period, suggesting positions are being closed rather than new shorts piling in.
Funding rates have cooled from 0.1% to 0.02%, pointing to reduced long leverage in the market.
On-chain, long-term holders’ realized supply reached 12.42 million BTC. Bitcoin’s sales pressure metric has also stayed inactive for 1,256 consecutive days, the longest stretch on record.
Hashrate has tracked the price slide closely through June. Matteo Spinosa of Doefin told Investing.com this reflects the cost of production repricing with the cycle, not an AI-migration story, as some have suggested.
