Truth Social

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Bitcoin

President Donald Trump

Rekt

Bitcoin (BTC) starts the third week of June with a spring in its step as the US-Iran peace deal sends risk assets higher.
Key points:
<ul>
 <li>Bitcoin price action targets $66,000 as US stock futures soar and oil approaches its lowest levels since early March.</li>
 <li>Traders see $69,000 as a likely short-term BTC price target.</li>
 <li>The Federal Reserve interest-rate decision is under the microscope thanks to new Chair Kevin Warsh.</li>
 <li>Bitcoin whales have reversed their selling mentality, putting in a “rock-solid floor” near $60,000.</li>
 <li>Overall demand weakness raises questions over a bull-market comeback.</li>
</ul>
<h2 id="oil-price-drops-below-80-as-iran-peace-countdown-begins">Oil price drops below $80 as Iran peace countdown begins</h2>
The US-Iran war is again the center of attention for traders this week as a peace deal appears closer than ever.
Developments over the weekend initially included a <a href="https://cointelegraph.com/markets/bitcoin-nears-65k-as-trump-says-hormuz-will-open-to-all-in-sunday-iran-peace-deal" rel="noopener noreferrer nofollow">Sunday deadline</a> for signing off on a ceasefire, but this subsequently became Friday.
Multiple sources then confirmed that the US and Iran would sign an agreement for a 60-day pause in hostilities, along with various other measures, in Switzerland on Friday.
In a <a href="https://truthsocial.com/@realDonaldTrump/posts/116750814874397998" rel="noopener noreferrer nofollow">post</a> on Truth Social, US President Donald Trump confirmed that the deal would include the reopening of the Strait of Hormuz — a key global oil route.
“With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!” he wrote.<img alt="Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week" height="585" src="https://s3-images.ctmedia.io/media/content/screenshot-2026-06-15-at-101745.png" width="926">
Source: Truth Social
 US stock futures surged as a result, with risk assets moving higher across the board — including Bitcoin and crypto.
Oil, by contrast, fell immediately, with WTI crude trading below $80 per barrel for the first time since mid-April.<img alt="Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week" height="818" src="https://s3-images.ctmedia.io/media/content/usoil2026-06-1511-27-55.png" width="1134">
CFDs on US WTI crude oil one-day chart. Source: Cointelegraph/TradingView
 Reacting, portfolio manager Danny Dayan described the deal as the “biggest and worst TACO of all time,” referring to the Trump administration’s approach to various geopolitical and macroeconomic conflicts.
“Overheat, higher core inflation, and higher neutral rate, will be the macro considerations ahead,” he <a href="https://x.com/DannyDayan5/status/2065869332505084206" rel="noopener noreferrer nofollow">told</a> X followers, seeing a pivot away from oil as a market mover.
Throughout the conflict, oil price strength has been a headwind for Bitcoin, even as stocks see <a href="https://cointelegraph.com/markets/bitcoin-price-threatens-75k-loss-as-us-iran-peace-progress-sparks-new-stocks-records" rel="noopener noreferrer nofollow">repeated new all-time highs</a>.&nbsp;
BTC/USD is now back at the exact level it traded when it <a href="https://cointelegraph.com/markets/bitcoin-price-drops-63k-us-israel-bomb-iran" rel="noopener noreferrer nofollow">began on Feb. 28</a>.&nbsp;
<h2 id="bitcoin-traders-see-69-000-short-squeeze">Bitcoin traders see $69,000 short squeeze</h2>
News of a US-Iran peace deal helped <a href="https://cointelegraph.com/news/bitcoin-closes-in-on-66k-as-trump-signals-deal-with-iran" rel="noopener noreferrer nofollow">propel BTC price action toward two-week highs</a> into Sunday’s weekly candle close.
Data from TradingView captured local highs of $65,988 as the new week began.<img alt="Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week" height="818" src="https://s3-images.ctmedia.io/media/content/btcusd2026-06-1511-36-43.png" width="1134">
BTC/USD four-hour chart. Source: Cointelegraph/<a href="https://www.tradingview.com/symbols/BTCUSD/" rel="noopener noreferrer nofollow">TradingView</a>
With both $60,000 and Bitcoin’s 200-week simple moving average (SMA) at $62,000 holding as support, traders’ short-term outlook began to improve.
“Closed near the highs with almost no upper wick, favoring a push higher this week,” trader SuperBro wrote in his <a href="https://x.com/SuperBitcoinBro/status/2066390850649944563" rel="noopener noreferrer nofollow">latest analysis</a> on X.
SuperBro eyed the 200-week exponential moving average (EMA) as a potential target for a short squeeze.
“There are a lot of leveraged shorts up to the 200 EMA around $69K. Good chance that is where this is headed,” he added.&nbsp;
“Q2 closes in just 2 weeks. Let's see if bulls can keep the heat on.”<img alt="Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week" height="1168" src="https://s3-images.ctmedia.io/media/content/superhk1lyqnbgaafwb.jpeg" width="1835">
BTC/USD one-week chart. Source: SuperBro/X
 Trader CrypNuevo also had the area just below the $70,000 boundary in sight for the week.
“Still seeing a recovery to the mid-range $69k,” he wrote in his <a href="https://x.com/CrypNuevo/status/2066280050085777618" rel="noopener noreferrer nofollow">X analysis</a>.
CrypNuevo warned that BTC/USD could still return to local lows as part of range-bound trading.<img alt="Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week" height="1140" src="https://s3-images.ctmedia.io/media/content/hkyi18jxeaa0de7.jpeg" width="1946">
BTC/USDT one-day chart. Source: CrypNuevo/X
 Trader and analyst Rekt Capital agreed, <a href="https://x.com/rektcapital/status/2066199300246290743" rel="noopener noreferrer nofollow">stressing</a> that price rebounds tend to become weaker as bear markets progress, along with key support —&nbsp;in this case the $60,000 mark.<img alt="Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week" height="1338" src="https://s3-images.ctmedia.io/media/content/hkydsidxwaazhwr.jpeg" width="1814">
BTC/USD one-week chart. Source: Rekt Capital/X
<h2 id="new-fed-chair-under-pressure-on-rate-cut">New Fed chair under pressure on rate cut</h2>
Against the backdrop of serious geopolitical flux, “all eyes” nonetheless remain on the US Federal Reserve.
On Wednesday, the Fed’s new chair, Kevin Warsh, will lead his first meeting to decide on interest-rate changes.
Given the inflationary catalyst that the Iran war has become, markets see barely any chance of Warsh cutting rates —&nbsp;but Trump has repeatedly called for that very outcome.
In an <a href="https://cointelegraph.com/markets/bitcoin-stocks-face-months-of-losses-as-kevin-warsh-becomes-fed-chair" rel="noopener noreferrer nofollow">interview in April</a>, Trump told mainstream media that he “would” be disappointed if Warsh did not deliver a cut at the first opportunity.
“All eyes are on the Fed this week,” trading resource The Kobeissi Letter <a href="https://x.com/KobeissiLetter/status/2066180993363411002" rel="noopener noreferrer nofollow">summarized</a> in its latest X analysis.<img alt="Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week" height="715" src="https://s3-images.ctmedia.io/media/content/screenshot-2026-06-15-at-113212.png" width="1151">
Fed target rate probabilities for Wednesday FOMC meeting (screenshot). Source: CME Group
 The latest data from CME Group’s <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="noopener noreferrer nofollow">FedWatch Tool</a> puts the odds of a minimal 0.25% cut at just 3.4%.
Reacting, commentators overwhelmingly see rates remaining at current levels.
In <a href="https://dannydayan.substack.com/p/trapped-823" rel="noopener noreferrer nofollow">analysis</a> on Sunday, Dayan described Warsh as “trapped no matter what he does.”
“If he is hawkish, he will be breaking promises made to Trump,” he wrote.&nbsp;
<blockquote>
 “On the other hand, if he uses the recent decline in oil prices as a reason for a wait and see stance, I think he is raising the odds we will see a panic hike in the second half of the year as the economy overheats.”
</blockquote>
US markets will have a shorter four-day week, with Wall Street closed Friday for the Juneteenth holiday.
<h2 id="whales-deliver-rock-solid-floor">Whales deliver "rock-solid floor"</h2>
In a boost for Bitcoin bulls, new analysis reveals a potential sea change in large-volume investor mentality in recent days.
Bitcoin whales, according to onchain analytics platform <a href="https://cryptoquant.com/insights/quicktake/6a2f760e9139404af2b01827-Whales-Complete-Selling-Trigger-657K-Rebound-Whale-Supply-U-Turn" rel="noopener noreferrer nofollow">CryptoQuant</a>, have become buyers again.
Looking at exchange inflows from whale wallets, CryptoQuant data shows that coin days destroyed (CDD) —&nbsp;the number of days funds spent dormant after last moving —&nbsp;have significantly cooled.
“Inflow CDD plunged from 2.16M to near-zero (33K), showing long-term whale dumping has completely stopped,” contributor Woo Minkyu wrote in a Quicktake blog post on Monday.<img alt="Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week" height="772" src="https://s3-images.ctmedia.io/media/content/screenshot-2026-06-15-at-105139.png" width="1001">
Bitcoin whale data (screenshot). Source: CryptoQuant
 Woo described whales as putting in an “aggressive bottom buy” at around $61,000, absorbing “all” coins panic sold by other investor cohorts.
“The wealth transfer from weak hands to strong hands is complete,” he concluded.&nbsp;
<blockquote>
 “Whales have locked in the $60,000–$61,500 range as a rock-solid floor. With exchange reserves depleted, the path of least resistance for Bitcoin is now firmly upward.”
</blockquote>
Earlier, <a href="https://cointelegraph.com/markets/bitcoin-needs-one-more-thing-to-happen-to-spark-btc-price-rally-analysis" rel="noopener noreferrer nofollow">Cointelegraph reported</a> that three key conditions for a BTC price rebound were almost satisfied. Whales on Hyperliquid and Bitfinex, analysis said at the time, were already positioned for a bounce.
<h2 id="bitcoin-apparent-demand-stays-negative">Bitcoin apparent demand stays negative</h2>
When it comes to a full bull-market rebound, CryptoQuant remains cautious in light of current onchain data.&nbsp;
Related: <a href="https://cointelegraph.com/markets/bitcoin-miner-capitulation-comes-as-trader-sees-later-2026-bear-market-bottom" rel="noopener noreferrer nofollow">Bitcoin miner 'capitulation' comes as trader sees later 2026 bear-market bottom</a>
Apparent demand, contributor XWIN Japan <a href="https://cryptoquant.com/insights/quicktake/6a2f4e7a9139404af2b017ef-Has-the-Bitcoin-4-Year-Cycle-Ended-What-CryptoQuant-Data-Reveals-About-the-2026-" rel="noopener noreferrer nofollow">notes</a>, is still negative — something that has always coincided with bear markets in the past.<img alt="Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week" height="734" src="https://s3-images.ctmedia.io/media/content/screenshot-2026-06-15-at-110200.png" width="1329">
Bitcoin apparent demand (screenshot). Source: CryptoQuant
 Apparent demand is the difference between Bitcoin’s issuance — or newly mined coins — and the supply inactive for over a year.
“If the decrease in inventory exceeds production, demand is increasing, and vice versa,” CryptoQuant head of research Julio Moreno <a href="https://cryptoquant.com/alert/preset/672d24fc21a51523a6d09aff" rel="noopener noreferrer nofollow">explains</a>.
Accordingly, current negative values signal a broad lack of interest in BTC exposure and may even override the four-year cycle theory to dictate future price action, XWIN says.
“This suggests that Bitcoin may not be declining simply because ‘the cycle says so.’ Instead, demand growth has slowed,” it wrote this weekend.<img alt="Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week" height="587" src="https://s3-images.ctmedia.io/media/content/screenshot-2026-06-15-at-110250.png" width="1172">
Bitcoin apparent demand (screenshot). Source: CryptoQuant
 XWIN also pointed to declining open interest on Bitcoin futures markets while echoing the theory that a <a href="https://cointelegraph.com/markets/bitcoin-risks-new-purge-with-bear-market-losses-still-35b-below-2022-total" rel="noopener noreferrer nofollow">final “capitulation” event</a> may yet occur.

Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week

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