Bitcoin trades near $65,600 as weakening institutional demand keeps prices range-bound

Bitcoin is trading near the $65,600 mark on Monday as weakening institutional demand keeps the price range-bound. The cryptocurrency was trading at the $65,645 mark.

In the past 24 hours, Bitcoin and Ethereum were up 2.02% and 2.36%, respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin and Cardano gained up to 8%.

Also Read | Flexi cap fund inflows halve to Rs 5,175 crore in May after record April. Is this profit booking or a buying opportunity?


Vikram Subburaj, CEO of Giottus, said Bitcoin entered the second half of June trading around $65,500 after spending multiple sessions oscillating between $63,600 and $65,800, and the market is currently navigating a period where institutional demand has weakened. However, long-term investors continue to hold their positions. This has created a narrow trading range rather than a decisive directional move.

Subburaj further said on-chain indicators also point to a market that is cautious rather than euphoric, and markets are now focused on the US Federal Reserve’s June 16-17 policy meeting.

The global crypto market capitalisation went up 1.88% to $2.24 trillion, according to CoinMarketCap. BTC ETFs recorded $316M in net outflows last week, making it the 5th consecutive week of net outflows. On the other hand, oil prices crashed 4% following a peace deal between the US and Iran that squashed $150M worth of shorts in the crypt market, said CoinDCX Research Team.

Akshat Siddhant, Lead Quant Analyst, Mudrex, said Bitcoin has reclaimed the $65,000 level following the announcement of a US–Iran peace agreement, which improved risk sentiment across global markets, and the development triggered sharp reactions across oil, gold, and crypto, with investors moving back into risk assets.

If buying pressure remains strong and the deal progresses smoothly, Bitcoin could move toward the $74,000 level. However, downside risk remains with support standing at the $61,000 level, Siddhant further said.

In the past week, Bitcoin and Ethereum were up 4.90% and 4% respectively. Among the major altcoins, BNB, XRP, Solana, Hyperliquid, Dogecoin and Cardano rallied up to 12%, whereas Tron corrected 1.92%.

A staggered investment approach remains effective in navigating market fluctuations while maintaining exposure to long-term opportunities in digital assets. The focus should remain on fundamentally strong cryptocurrencies, monitoring institutional flows, macroeconomic developments and on-chain activity, said Avinash Shekhar, Co-Founder & CEO, Pi42.

Also Read |HDFC Defence Fund adds Tata Motors, reduces exposure in MTAR Technologies and 1 other in May

Market perspective

WazirX market desk: “The crypto market is showing signs of notable recovery as macroeconomic pressures ease across the ecosystem. Risk sentiment has improved after reports of a US–Iran peace agreement and the reopening of the Strait of Hormuz, which pushed oil prices lower and supported global risk assets.

CoinSwitch Markets Desk: BTC moved past the $65K level as markets reacted positively to President Donald Trump’s confirmation of a US-Iran peace deal, easing a key geopolitical overhang that has kept global assets cautious for months. For crypto, the move is an initial relief reaction after weeks of uncertainty around energy prices, geopolitics, and macro positioning. The next major checkpoint is the Fed meeting on Tuesday and Wednesday, where rates are expected to remain unchanged.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in along with your age, risk profile, and Twitter handle.