Asian equities and technology stocks rallied after the U.S. and Iran agreed on a roadmap toward a final peace deal, helping push oil prices below $80. Crypto, however, remained muted, with bitcoin down roughly 2% on the week and memecoins among the weakest performers.
Bitcoin opened the week hovering near $64,000, failing to join the broader rally in Asian equities as optimism built around progress in U.S.–Iran negotiations.
The token traded around $63,996 on Monday, down 0.4% over the past 24 hours and 2.2% for the week, according to CoinDesk data. Performance across the crypto market was uneven: solana gained 3.7% to $74 and tron rose 2.2%, while ether stayed near $1,733. Losses were deeper among large-cap tokens, with BNB down 4.2%, XRP off 4.3% to $1.13, and dogecoin lagging with a 6.5% weekly decline. Hyperliquid’s HYPE dropped 5% on the day, cooling to a 1.9% weekly gain after a strong early-June run.
Despite improving macro conditions, crypto did not participate in the risk-on move. The U.S. and Iran agreed to a 60-day roadmap toward a final peace deal, while Brent crude slipped 1.7% to around $79 a barrel.
Asian markets, measured by an MSCI index, rose 0.6%, led by a technology-driven rally supported by continued AI optimism. U.S. equity futures were softer, with S&P 500 contracts down 0.5%.
Mediators Qatar and Pakistan said in a joint statement reported by Bloomberg that progress had been made, including a framework for continued technical talks and a communication channel to maintain safe commercial shipping through the Strait of Hormuz.
However, the process remains uncertain. Talks reportedly faced early disruption on Sunday after Iran briefly paused participation following renewed strike threats from President Donald Trump linked to regional tensions, before both sides agreed on channels to prevent escalation.
Bitcoin has largely moved in line with risk assets throughout the Iran-related developments but is starting the week flat even as equities rally. The key test ahead is whether the 60-day roadmap holds—and whether crypto eventually re-aligns with improving risk sentiment or continues to drift below early-June levels.
