Leading cryptocurrencies extended losses on a volatile Monday, despite the U.S. and Iran signing key agreements as part of a peace deal.
Crypto Market Loses More Ground
Bitcoin fell sharply overnight after breaking $65,500 in the early trading. Trading volume for the apex cryptocurrency jumped 43% over the last 24 hours.
Ethereum remained volatile around the $1,700 mark, as buying and selling pressure from bulls and bears created significant swings
Over $300 million was liquidated from the cryptocurrency market in the last 24 hours, with $200 million in bullish long positions erased, according to Coinglass data
Bitcoin’s open interest fell 1.21% over the last 24 hours. Smart money sentiment, which refers to the collective outlook and capital allocation of institutional investors, turned “extremely bearish.”
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.2 trillion, following a dip of 0.79% over the last 24 hours.
Stock Market Reacts To Iran Deal Progress
Stocks were a mixed bag on Monday. The Dow Jones Industrial Average lifted 148.01 points, or 0.29%, to end at 51,712.71. The S&P 500, in contrast, slid 0.37% to close at 7,472.79, while the tech-focused Nasdaq Composite fell 1.32% to end at 26,166.60.
Peace negotiations between the U.S. and Iran advanced. Vice President JD Vance said Iran has agreed to allow inspectors from the International Atomic Energy Agency back into the country.
This development comes after Iranian Foreign Minister Seyed Abbas Araghchi said that the U.S. would lift its naval blockade of the Strait of Hormuz and begin releasing frozen Iranian assets.
Bitcoin Bear Market Intact?
Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, speculated that Bitcoin could follow a repeating historical pattern with June 2026 closing red, July turning green, and August erasing July’s gains to finish flat or down.
This same pattern played out exactly in 2024, 2022, and 2018.
On-chain analytics firm CryptoQuant noted that the Bitcoin Cycle Momentum indicator has yet to rise above the neutral zone, signaling that the bear market remains in effect.
“The indicator has reached the -30 point range — a historically deep zone for the formation of a cyclical bottom,” CryptoQuant added. “However, to confirm a trend reversal, the price must form a bullish pattern with the indicator breaking above the Neutral zone.”
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