Bitcoin dips to $59,700 as Iran de-escalation lifts stocks but not crypto

Bitcoin slipped to $59,700 on Monday, down 0.3% on the day and 6.8% on the week, as a de-escalation in the US-Iran conflict lifted equity futures but failed to ignite a crypto rally.

According to CoinDesk data, Bitcoin traded near $59,700, while Ether edged up 0.3% to $1,572 and Solana added 1.5%. XRP and dogecoin continued to slide. The moves came after Axios reported Sunday that the US and Iran agreed to fully halt strikes and meet this week in Qatar to resume talks over the Strait of Hormuz and a broader end to the conflict. S&P 500 and Nasdaq 100 futures gained 0.5% as of Monday, but crypto did not follow.

The non-reaction fits the pattern of the past two weeks. Bitcoin jumped on the peace deal signing June 19, then gave back those gains. For crypto traders, this divergence from equities is a key signal: risk appetite remains fragile, and macro catalysts like US Treasury yields and the DXY are still weighing on digital assets. Traders can track these moves live on NowPrice's crypto dashboard.

Looking ahead, the market will watch the Qatar talks closely. Any breakdown in negotiations could reignite safe-haven demand for Bitcoin, while a sustained de-escalation might eventually allow crypto to catch up with equities. Key levels to monitor include Bitcoin support at $58,000 and resistance at $61,000.