Iran said on June 11 the Strait of Hormuz remained closed, even as President Donald Trump claimed the U.S. had reached a "great deal" with Tehran. Bitcoin traded around $63,400 on June 11 after dropping to $60,914, as markets weighed de-escalation hopes against ongoing disruption in a route that carries about 20% of global energy.

SpaceX is scheduled to start trading on Nasdaq on June 12, 2026, after a $75 billion IPO, and market participants are weighing how the listing could affect crypto sentiment. One view is that more than $5 billion of outflows from bitcoin ETFs helped push BTC below $60,000 as investors sought IPO liquidity, which could later rotate back into crypto. Others warn that record IPOs have often appeared near equity-market peaks, potentially pressuring risk assets, including bitcoin, which has hovered around $63,000 after briefly dipping under $60,000 last week.

JPMorgan says the macro "debasement trade" that previously pushed billions into Bitcoin and gold is unwinding, with the retreat accelerating for BTC. Bitcoin is trading above $63,000 after falling from an October peak above $126,000, while gold ETFs shed $20 billion in the week through June 5 and US spot bitcoin ETFs logged $2.1 billion of outflows in June. A Sygnum CIO argued the flows may reflect cash-and-carry arbitrage being closed rather than broad capitulation.

Bitcoin climbed from $61,100 to above $63,400 on June 11, a roughly 3% move tied to risk-on sentiment after President Trump said the U.S. stepped back from planned Iran strikes and a peace memo could be signed as early as this weekend. The rally came while spot Bitcoin ETFs logged 13 straight sessions of outflows totaling $4.4 billion, with markets also focused on the Federal Reserve's June 16–17 meeting and a 98% probability of a rate hold.

BlackRock moved closer to launching its iShares Bitcoin Premium Income ETF (ticker: BITA) after filing Form 8-A with the SEC on June 11. The prospectus lists a 0.65% sponsor fee and a seed portfolio that includes 109.96 BTC and 90,901 IBIT shares, with the strategy designed to sell covered calls to seek monthly income. A Bloomberg ETF analyst said the filing often precedes a launch within about a week, placing June 18 as a possible start date, though not guaranteed.

Roughly 35,000 Bitcoin options are set to expire on Friday, June 12, with a notional value near $2.23 billion, while about 175,000 Ethereum options worth around $293 million also roll off. Max pain levels are cited at roughly $67,000 for BTC and $1,750 for ETH, as spot markets remain pressured even with BTC up about 2% to around $63,500.

Bitcoin's recent drop to $59.1K pushed short-term holders into a severe stress phase, with short-term holder whales carrying $16.4 billion in unrealized losses. Bitcoin ETFs have also seen the deepest drawdown on record, with an estimated $10.5 billion leaving since 12 October. Miner indicators worsened too, as the 30-day Puell Multiple slid to 0.74 and Miner Capitulation hit -21%, raising concerns that deteriorating conditions could echo 2022-style equipment shutdowns.

Bitcoin returned to gains on Friday, trading at $63,550, up 1.6% on the day and 1.4% over the week. The rebound followed Donald Trump's comments that the U.S. was close to a deal with Iran and that he had "ended the war with Iran today." Major tokens moved higher alongside BTC, while traders watched for whether a formal agreement in Europe this weekend materializes.