Bitcoin holds near $64,000 as a renewed Hormuz threat clouds US-Iran ceasefire talks

Markets Bitcoin holds near $64,000 as a renewed Hormuz threat clouds US-Iran ceasefire talks Crypto firmed over the weekend after Friday's sell-off, with bitcoin recovering toward $64,000. Permanent ceasefire talks open in Switzerland, but Iran's order to close the Strait of Hormuz again revives the risk the deal was meant to settle. By Shaurya Malwa Jun 21, 2026, 6:46 a.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Summary Show Bitcoin hovered around $64,200 over the weekend, recovering part of Friday’s slide but leaving prices roughly unchanged for the week. Major cryptocurrencies mostly firmed, with ether, solana and tron posting weekly gains while dogecoin lagged and Hyperliquid’s HYPE remained the standout performer. Markets are focused on US-Iran ceasefire talks in Switzerland and Iran’s renewed threat to close the Strait of Hormuz, developments that could swing oil prices and broader risk assets, including bitcoin. Bitcoin steadied near $64,000 over the weekend, clawing back part of Friday's drop, as traders weighed the start of US-Iran ceasefire talks against a renewed threat to close the Strait of Hormuz. The token traded around $64,200 on Sunday, up 0.9% over 24 hours but roughly flat on the week, per CoinDesk data, after dropping below $63,000 on Friday. Most majors firmed alongside it. Ether rose 0.5% on the day and 3.3% on the week to $1,734, solana gained 1.5% to $73 and tron added 1.2%. Hyperliquid's HYPE slipped 2% on the day but remains the week's standout, up 14.8%. Dogecoin was the weakest major, down 4.9% over seven days. Bitcoin has gone nowhere on net this week, rallying early on the signed Iran deal, selling off Friday in a broad risk-off move, and stabilizing over the weekend. The weekend's focus is Switzerland, where US and Iranian officials, including Vice President JD Vance, are due to open talks on a permanent ceasefire, per Bloomberg. The negotiations follow the memorandum of understanding President Donald Trump signed last week, which set a 60-day window that can be extended. The backdrop is less settled than that suggests, however. Iran has issued a renewed order to close the Strait of Hormuz, the shipping chokepoint whose reopening under the deal pulled oil prices down about 9% last week and lifted risk assets. Tehran is sending negotiators to Switzerland even as it threatens to shut the strait again, leaving the market with the same uncertainty the signed deal was supposed to remove. That leaves crypto where it has spent much of the month, range-bound and waiting on events it does not control. As such, a genuine closure of Hormuz would push oil back up and likely drag risk assets including bitcoin with it, while a durable ceasefire would clear the overhang. Latest Crypto News 1 AI is making crypto security cheaper, faster and harder to ignore 15 hours ago 2 How STRC lost its par: The timeline behind Strategy's preferred-stock meltdown 17 hours ago 3 Schwab to join prediction markets race with S&P 500 event-based options: WSJ Jun 19, 2026 4 GoMining challenges Jack Dorsey's Square with payments system designed around bitcoin Jun 19, 2026 5 Franklin Templeton proposes new ETFs that turn corporate dividends into bitcoin Jun 19, 2026 6 Smart-contract and DeFi coins lead losses as bitcoin wilts for 4th straight day Jun 19, 2026 7 Digital credit market hit by huge selloff as Strive CEO blames leverage liquidations Jun 19, 2026 8 Microsoft found malware that hijacks crypto wallets and spreads through USB sticks Jun 19, 2026 9 XRP falls 3% after losing $1.15 support as breakout attempt fades Jun 19, 2026 10 Live markets: Bitcoin under pressure as Saylor comments on STRC selloff Jun 19, 2026 Latest Research CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. By CoinDesk Research Jun 15, 2026 In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. Why it matters : In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. View Full Report More From Markets How STRC lost its par: The timeline behind Strategy's preferred-stock meltdown Schwab to join prediction markets race with S&P 500 event-based options: WSJ Smart-contract and DeFi coins lead losses as bitcoin wilts for 4th straight day