Bitcoin traded near $64,260 on Sunday, up 0.87% daily but flat on the week, after recovering part of Friday's drop below $63,000. According to crypto.news, the cryptocurrency showed a 24-hour range between $63,188 and $64,462 with daily volume above $16.6 billion. Ethereum, Solana and Tron also firmed over the weekend, while Hyperliquid's HYPE remained one of the stronger weekly performers despite a daily pullback. Dogecoin stayed weaker than most large tokens on a seven-day basis, with the broader market move looking more like stabilization than a strong trend change. The rebound has not yet changed the wider range, as Bitcoin still needs a higher close above nearby resistance to show buyers control the next leg.
Galaxy Research reported that U.S. spot Bitcoin ETFs posted a record $6.35 billion outflow across the latest 30-day window, marking the largest such outflow in its tracked data. The same data showed six straight weeks of outflows, with cumulative net flows falling to $53.4 billion from a $63 billion peak in October 2025. However, weekly outflows have since cooled dramatically, falling 87% from their early-June peak of $1.72 billion to about $226 million last week, according to Farside Investors data. The $6.35 billion drain ranks first across all 582 rolling 30-day windows tracked by Galaxy Research, representing the heaviest stretch since the funds launched in January 2024. Bitcoin has dropped about 17% over the past month, sitting roughly 49% below the record $126,080 reached on October 6, 2025. The selling has been uneven across the complex, with BlackRock's IBIT still pulling in $62.1 billion since launch, while Grayscale's GBTC has shed $27 billion.
The $62,000 area remains the level bulls "must hold" into the weekly close, according to crypto trader Daan Crypto Trades, who noted Bitcoin bounced from the weekly 200-period moving average area and the 0.618 Fibonacci retracement. A clear break below that zone could weaken short-term sentiment, while a move above the local high near $67,000 could open a move toward $73,000. Analysts are watching $62K support and $67K resistance as macro risks steer near-term Bitcoin direction. If June ends red, July has often moved in the opposite direction, as noted by Rekt Capital, who also warned that a weak June close could confirm a loss of the 50-month EMA as support. A close below $62,000 would put the $60,000 to $59,000 zone back in focus, while a move above $67,000 could shift attention toward $73,000. Bitcoin's resilience near $64,000 throughout the ETF outflow slowdown suggests that long-term holders absorbed much of the supply released by ETF managers.
The cryptocurrency recovery was triggered by President Donald Trump's announcement via Truth Social that "The Deal with the Islamic Republic of Iran is now complete," citing an immediate, toll-free reopening of the Strait of Hormuz and the removal of the U.S. naval blockade on Iranian ports. U.S. and Iranian officials, including Vice President JD Vance, are due to open talks on a permanent ceasefire in Switzerland, following the memorandum of understanding that set a 60-day window that can be extended. However, Iran has issued a renewed order to close the Strait of Hormuz again, reviving the risk the deal was meant to settle. A formal signing is targeted for Friday, June 19, in Switzerland, with markets closely monitoring official signing details and Iran Supreme Leader responses to the MoU. The backdrop remains unsettled as Tehran sends negotiators to Switzerland even as it threatens to shut the strait again.
Some technical traders see early signs of relief, with crypto analyst BATMAN noting Bitcoin printed a daily MACD momentum flip from deeply negative territory, arguing similar signals in this cycle appeared near local bottoms before relief rallies. However, the near-term setup remains balanced, with Bitcoin stabilizing but traders still needing stronger volume, better fund flows and calmer geopolitical news before calling the rebound durable. The market backdrop remains unsettled because Iran again ordered the closure of the Strait of Hormuz, with the waterway being one of the world's key oil routes. A durable ceasefire would reduce one source of risk, while a renewed oil shock could bring back defensive trading across digital assets. Bitcoin has traded below several earlier cycle reference levels, and if funds keep losing capital, spot buyers may need to absorb more supply before price can reclaim the $67,000 area. Only a swing back to inflows would confirm a bottom, as outflows remain net negative despite the cooling trend.
