Bitcoin and stock markets await Wall Street

The US markets were closed yesterday for Juneteenth, while the biggest geopolitical news also came from that direction (US Vice President JD Vance did not travel to Switzerland negotiate with Iran).

Bitcoin and the European and Asian markets are therefore awaiting direction from the Americans on Monday. In the meantime, investors must hope that Bitcoin continues to trade above $60k this weekend.

Geopolitics

After Bitcoin had started the month of June very well with a bounce, all that good news was undone this week by a combination of two factors. First, the new Fed Chairman Kevin Warsh was much less positive than many had hoped, and second, that peace agreement between Iran and the United States does not seem to be working out as well as we all expected.

All of this means that the price of Bitcoin is once again trapped in the rather narrow trading range between $60k and $63k. The sensitive support level for this year still lies around $59k, and Bitcoin needs to stay above that level more than ever to avoid getting bogged down in a retest.

The standout among the altcoins was once again Hyperliquid, which refuses to trade below $65 and still has a very nice year-to-date gain.