Crypto opened Monday unchanged. Bitcoin traded near $59,700, down 0.3% on the day and 6.8% on the week, as a reduction in the conflict between the United States and Iran boosted stock futures but left digital assets untouched, according to data from CoinDesk.
Ether rose 0.3% to $1,572, Solana added 1.5%, while XRP and dogecoin continued to fall.
Axios reported Sunday that the United States and Iran agreed to completely stop the attacks and meet this week in Qatar to resume talks on the Strait of Hormuz and a broader end to the conflict. S&P 500 and Nasdaq 100 futures gained 0.5% through Monday, but cryptocurrencies did not follow.
The lack of reaction fits the pattern of the last two weeks. Bitcoin jumped upon the signing of the peace deal on June 19, and then bounced back as aggressive exits from the Fed and ETF reaffirmed. Traders have already been hit by enough demonstrations of geopolitical relief that the Qatar meeting registers as a maybe more than a catalyst.
South Korea announced plans to double DRAM production capacity in the Seoul metropolitan area within five years, and Samsung and SK Hynix committed 800 trillion won, about $518 billion, to build four new manufacturing plants.
Asian tech hardware stocks fell in rotation, even as eight of the 11 MSCI Asia Pacific subgroups gained. The same AI chip trading that rocked markets last week remains mainstream across assets.
The test for cryptocurrencies this week is whether talks with Iran in Qatar produce anything lasting and whether Thursday’s PCE data softens enough to change the Fed’s narrative. Both need to land to give Bitcoin a reason to move.
