Bitcoin price entered the weekend somewhat battered and bruised, fresh off a gut-punch to $59,000 on June 5 — its weakest footing since October 2024 — and with no shortage of skeptics ready to call the bull market dead.
But by Monday morning, the picture looked different. The world’s largest cryptocurrency clawed its way to $66,800 on the day, printing a 7-day low of $60,909 before staging a textbook recovery that carried it through $66,000 and toward the 7-day high of $66,888.
The chart told the story of a market caught between fear and conviction: a sharp slide toward $61,000 by June 9–10, choppy consolidation between $62,000 and $63,000 through mid-week, then a decisive push higher that accelerated into the weekend close and carried into Monday’s open.
On Sunday, President Donald Trump announced via Truth Social that a peace deal with Iran was “complete,” authorizing the toll-free reopening of the Strait of Hormuz and bringing nearly four months of armed conflict to an immediate halt.
Pakistani Prime Minister Shehbaz Sharif confirmed that all military operations across every front — including Lebanon — would cease, with a formal signing ceremony scheduled for June 19 in Switzerland. Brent crude slid more than 4% toward $84 a barrel.
For Bitcoin, the deal dismantled three layers of macro pressure at once. The conflict had driven oil higher, stoked inflation expectations, and hardened the Federal Reserve’s rate-hike narrative — a toxic cocktail for risk assets. With the Strait reopening, all three headwinds began unwinding simultaneously. Bitcoin climbed to $65,844 on June 15, its highest level in nearly two weeks, as the broader crypto market cap recovered above $2.3 trillion.
While retail sentiment remained fragile, the institutional buyers were already deep in accumulation mode well before the geopolitical relief arrived.
At the time of writing, the bitcoin price is near $66,500.
Bitcoin price predictions and $BTC acquisitions
Michael Saylor’s Strategy disclosed Monday that it had acquired an additional 1,587 $BTC between June 8 and June 14 for approximately $100 million at an average price of $63,024 per coin. The purchase brings Strategy’s total Bitcoin reserve to 846,842 $BTC — a stack accumulated at a cumulative cost of roughly $64.07 billion, or $75,656 per coin on average.
The firm also sold 1,732,553 shares of common stock during the same window, generating $209 million in net proceeds as it simultaneously rebuilt its USD reserve to $2.25 billion. Saylor’s playbook hasn’t changed: buy weakness, build the treasury, hold forever.
Strive, the Dallas-based asset management firm that has made Bitcoin its primary treasury asset and business identity, continued its own accumulation, picking up 32 $BTC between June 2 and June 7 at an average of $63,911 per coin. The purchase represented a roughly 14% improvement in cost basis compared to its prior round — a sign that Strive’s treasury team was putting fresh capital to work during the drawdown, not flinching from it. As of its most recent disclosures, Strive held 15,391 $BTC valued near $1.2 billion.
Coinbase CEO Brian Armstrong also stepped into the conversation with a measured but unmistakable bottom call.
“My instinct is we probably have bottomed at this point, maybe at the 60k number, but nobody can say for sure,” Armstrong said. He remains long Bitcoin and expects prices to be “much higher” by 2030, repeating a view he has held for years: “I think bitcoin is the new digital gold”.
Armstrong pointed to Bitcoin’s four-year halving cycle as the structural framework for reading the current drawdown, noting that the swings always feel more extreme than they turn out to be in hindsight.
Bitcoin is currently trading roughly 47% below its all-time high of $126,277, set in October 2025. The recovery from the June 5 low represents a more than 11% bounce in ten days.
This post Bitcoin Price Claws Back From the Brink as Iran Deal, Saylor, and Armstrong Signal a Turning Tide first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
