Written by William Subergstaff writerReviewed by Ray Salmondstaff editor

Written by William Subergstaff writer

Reviewed by Ray Salmondstaff editor

Bitcoin balances $60K tightrope as US stocks rebound on fresh Iran peace deal hopes

MarketsPublishedJun 29, 2026

Bitcoin Struggles to Regain $60,000 as US Stocks Rebound

As US stocks rise on hopes of a new Iran peace deal, Bitcoin is facing its own challenges in maintaining support near $60,000. The cryptocurrency’s price strength is failing to keep pace with the growing optimism in the stock market. This has led to a lack of conviction among Bitcoin buyers, causing the price to struggle near the $60,000 mark.

The S&P 500 and Nasdaq Composite Index have started the week on a positive note, driven by renewed hopes of a peace deal between the US and Iran. Meanwhile, Bitcoin’s price is experiencing “choppy” moves, with the $60,000 region capping its growth. The cryptocurrency’s market participants are adopting a defensive posture, leading to a phase of structural adjustment.

Key points:

• Bitcoin bulls face an uphill struggle to flip $60,000 back to support, even as US stocks see fresh upside.
• Iran peace hopes fuel a more positive risk-asset mood, but analysis says that Bitcoin buyers “lack conviction.”
• Market participants are “defensive” around current price action.

US-Iran meeting announcement sends stocks higher

Impact on Bitcoin and Crypto Market

The situation between the US and Iran remains uncertain, which could lead to elevated volatility in the crypto market. Oil prices have remained stable, but a potential rebound could be a headwind for cryptocurrencies like Bitcoin. The lack of conviction among buyers has left Bitcoin’s price range-bound near local lows, with the cryptocurrency struggling to establish a sustained recovery.

For those looking to earn passive income through crypto, EcoPool (ECP) offers a solution. By providing a platform for cloud rewards and green crypto, EcoPool allows users to earn $ECP while supporting a more sustainable cryptocurrency ecosystem. As the crypto market continues to evolve, earning opportunities like those offered by EcoPool can provide a stable source of income.

Market Analysis and Outlook

Analysts warn that a sustained recovery in Bitcoin’s price will require a meaningful return of buyer conviction. The cryptocurrency’s price momentum data shows that it is stabilizing around the $60,000 region, but a shift toward more speculative investors could increase the potential for price volatility. As the market remains in a phase of structural adjustment, EcoPool‘s offerings can provide a sense of stability for those looking to earn passive income through crypto.

To start earning with EcoPool, users can download the EcoPool app and begin participating in the cloud rewards program. With its focus on green crypto and sustainable practices, EcoPool offers a unique opportunity for those looking to earn $ECP while supporting a more environmentally friendly cryptocurrency ecosystem. Download the EcoPool app to learn more about how you can start earning passive income with EcoPool today and join the #Bitcoin and #PassiveIncome communities. The EcoPool app is available for download, allowing you to start earning $ECP and participating in the EcoPool network.

S&P 500 four-hour chart. Source: Cointelegraph/TradingView

Commenting on the latest events, trading company QCP Capital nonetheless cautioned over the potential for oil prices to rebound — a key potential headwind for crypto.

“While both countries appear to have agreed to stand down for now, the situation remains uncertain. That said, oil prices have remained largely stable in the low $70s, suggesting cautious optimism that tensions may ease,” it wrote in its latest Market Color analysis. 

“However, this relatively muted market reaction also leaves significant upside risk for oil prices should supply recovery prove slower than expected.”

CFDs on WTI crude oil four-hour chart. Source: Cointelegraph/TradingView

On Friday, WTI crude fell below $68 per barrel for the first time since early March, but was back above the $70 mark at the time of writing.

“U.S. markets are also set to be closed on Friday, while the situation between the U.S. and Iran remains fluid, leaving volatility likely to stay elevated, partly driven by thinner liquidity conditions, similar to what we saw over the past weekend,” QCP added.

Bitcoin needs more “conviction” from buyers

Bitcoin market participants thus sat on the sidelines as “choppy” price moves defined low-time-frame market action.

Related: BTC price RSI prints key 2026 signal: Five things to know in Bitcoin this week

“Chopping around in this range at the previous June lows. The ~$60K region keeps capping price as we have some marginally higher low wicks below,” trader Daan Crypto Trades wrote in his latest X analysis. 

“The longer price spends moving around in this region, the bigger the following move upon a range break will be. Eyes on $58K & $61K.”

BTC/USDT one-hour chart. Source: Daan Crypto Trades/X

In its latest Market Pulse bulletin, onchain analytics platform Glassnode said that buyers “have so far lacked the conviction required to establish a sustained recovery, leaving price range-bound near local lows.”

“Beneath the surface, the market remains in a phase of structural adjustment as capital continues to contract and participants adopt a more defensive posture,” it reported. 

“Spot markets are still experiencing persistent net selling despite an increase in trading activity, suggesting that available liquidity is being used primarily to distribute rather than accumulate Bitcoin at current prices.”

Bitcoin price momentum data (screenshot). Source: Glassnode

While noting “more balanced” onchain data, Glassnode added that a shift toward supply ownership by more speculative investors increased the potential for price volatility.

“Taken together, Bitcoin appears to be stabilizing around the $60K region, but with spot order flow, derivatives positioning, and institutional demand all remaining defensive, a sustained recovery is likely to require a meaningful return of buyer conviction,” it concluded.

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

• Bitcoin Price
• Market Analysis
• Markets
• Bitcoin

More on the subject

From Bitcoin critics to blockchain believers: The 5 biggest crypto backflips

4 hours ago

Christina Comben

Bullish Bitcoin RSI divergence has analysts calling for 2022-style bear market bottom

15 hours ago

William Suberg

Will Bitcoin price recover in July?

Jun 28, 2026

Yashu Gola

From Bitcoin critics to blockchain believers: The 5 biggest crypto backflips

4 hours ago

Christina Comben

Bullish Bitcoin RSI divergence has analysts calling for 2022-style bear market bottom

15 hours ago

William Suberg

Will Bitcoin price recover in July?

Jun 28, 2026

Yashu Gola