Crypto opened flat on Monday. Bitcoin traded near $59,700, down 0.3% on the day and 6.8% on the week, as a de-escalation in the US-Iran conflict lifted stock futures but left digital assets flat, according to CoinDesk data.
Ether rose 0.3% to $1,572, Solana added 1.5%, while XRP and dogecoin continued to slide.
Axios reported Sunday that the United States and Iran agreed to a full suspension of strikes and are meeting 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 rose 0.5% from Monday, but crypto did not follow.
The non-reaction fits the pattern of the past two weeks. Bitcoin jumped on the peace deal signed on June 19, then gave it back as the hawkish Fed and ETF outflows resurfaced. Traders have now been burned by enough geopolitical relief meetings that the Qatar meeting registers as a maybe rather than a catalyst.
South Korea announced plans to double DRAM production capacity in the Seoul metro area over five years, with Samsung and SK Hynix committing 800 trillion won, about $518 billion, to build four new fabrication facilities.
Asian tech hardware shares fell on rotation, even as eight of eleven MSCI Asia Pacific subgroups gained. The same trade in AI chips that whipped the markets last week remains the dominant current across assets.
The test for crypto this week is whether the Iran negotiations in Qatar produce anything durable and whether Thursday’s PCE print softens enough to change the Fed narrative. Both need to land to give bitcoin a reason to move.
