Crypto sits much higher than a week ago as the ceasefire holds
By June 17, Bitcoin and Ethereum were trading well above their levels from the prior week, buoyed by the U.S.–Iran ceasefire — though all eyes were on the Fed.
Bitcoin and Ethereum were trading much higher on Wednesday, June 17, than they had been a week earlier, as the U.S.–Iran ceasefire announced mid-month restored some appetite for risk.
The rebound recovered a chunk of the ground lost during early June's rout, when Bitcoin had dipped below $60,000 for the first time since October 2024. Still, traders were positioning cautiously ahead of the Federal Reserve's policy decision, wary that a hawkish tone could cut the recovery short.
That caution proved well-founded: prices would turn lower again later in the week as the rate narrative took over.