Bitcoin, Ethereum, XRP, Dogecoin In Red Even As Trump Signs Iran Peace Deal: Analyst Says BTC In ‘Fragile Recovery Phase’
June 17, 2026
Leading cryptocurrencies were red, while stock futures rallied overnight on Wednesday after President Donald Trump signed a historic “Memorandum of Understanding” with Iran to end all hostilities.
|
Cryptocurrency |
24-Hour Gains +/- |
Price (Recorded at 9:25 p.m. EDT) |
|---|---|---|
|
Bitcoin (CRYPTO: BTC) |
-1.36% |
$64,604.40 |
|
Ethereum (CRYPTO: ETH) |
-1.61% |
$1,755.43 |
|
XRP (CRYPTO: XRP) |
-1.70% |
$1.18 |
|
Solana (CRYPTO: SOL) |
-1.29% |
$72.35 |
|
Dogecoin (CRYPTO: DOGE) |
-1.02% |
$0.08619 |
Crypto Market Fails To Rally
Bitcoin retreated from $66,000 to below $64,000, as trading volume jumped 25% over the last 24 hours. Ethereum slid below $1,800, while XRP and Dogecoin also recorded intraday declines.
Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 5.09% and 3.15%, respectively.
Nearly $440 million was liquidated from the market in the last 24 hours, with $300 million in long positions traders alone wiped out, according to Coinglass data.
Bitcoin’s open interest fell by 2.62% over the last 24 hours. That said, the majority of the retail and whale derivatives traders on Binance were positioned long on the apex cryptocurrency.
Top Gainers (24 Hours)
|
Cryptocurrency (Market Cap>$100 M) |
Gains +/- |
Price (Recorded at 9:25 p.m. EDT) |
|
Yooldo (ESPORTS) |
+145.98% |
$0.2055 |
|
o1.exchange (O) |
+89.86% |
$0.6317 |
|
Tac Protocol (TAC) |
+45.05% |
$0.02388 |
The global cryptocurrency market capitalization stood at $2.25 trillion, following a modest dip of 0.85% over the last 24 hours.
Read Also: ‘If You Don’t Own Bitcoin, You’re Short Bitcoin’: Bitwise’s Jeff Park Stays Upbeat About BTC
Stock Futures Pop After Trump Signs MoU
Stock futures ripped higher overnight on Wednesday. The Dow Jones Industrial Average Futures jumped 260 points, or 0.50%, as of 8:46 p.m. EDT. Futures tied to the S&P 500 gained 0.81%, while Nasdaq 100 Futures climbed 1.31%.
The rally followed Trump signing the “Memorandum of Understanding” with Iran during a dinner hosted by French President Emmanuel Macron inside the Palace of Versailles.
🚨 President Donald J. Trump has SIGNED the Iran Memorandum of Understanding at Versailles in France. 🇺🇸 pic.twitter.com/JQ6qlbvFAF
— The White House (@WhiteHouse) June 17, 2026
Pakistan Prime Minister Shehbaz Sharif, who has acted as the mediator, confirmed that the MoU has also been signed by Iranian President Masoud Pezeshkian.
I am honoured to announce that the historic ‘Islamabad Memorandum of Understanding’ has been electronically signed today between the United States of America and the Islamic Republic of Iran. The Memorandum has been signed by honourable Presidents of both the countries and also…
— Shehbaz Sharif (@CMShehbaz) June 18, 2026
Why Crypto Sold Off After Fed Decision
According to blockchain research firm Santiment, the Fed’s decision to keep rates unchanged played out as a “buy the rumor, sell the news” moment, since investors had largely anticipated and priced in the outcome.
“Yet once the announcement became official, crypto, equities, gold, and silver all experienced immediate selling pressure as investors shifted their focus from what was expected to what comes next,” it added.
✍️ TL;DR: Fed leaves rates unchanged as expected, markets see sharp selloff anyways
📊 Metrics used: Social Trends
🔗 Link to chart: https://t.co/Lm0Ldg4N59📉 Markets have delivered a classic “buy the rumor, sell the news” reaction. For days, traders anticipated Kevin Warsh’s… https://t.co/jh8bFDdyvi pic.twitter.com/EC3tFMd3Od
— Santiment Intelligence (@SantimentData) June 17, 2026
On-chain analytics firm CryptoQuant noted that Bitcoin’s Spent Output Profit Ratio for short-term holders was yet to break below the key panic threshold of 0.95.
The metric is used to determine whether investors who have held their Bitcoin for less than 155 days are selling at an aggregate profit or loss.
“The current structure suggests a fragile recovery phase rather than full capitulation; a reclaim of 1.0 would confirm improving short-term sentiment, while a renewed drop below 0.95 would signal rising panic risk,” CryptoQuant added.
STH SOPR Has Not Entered Panic Territory Yet
“Fragile recovery phase rather than full capitulation; a reclaim of 1.0 would confirm improving short-term sentiment, while a renewed drop below 0.95 would signal rising panic risk” – By COINDREAM
Link ⤵️https://t.co/flclDqCgfk pic.twitter.com/Xdw3ihiHwo
— CryptoQuant.com (@cryptoquant_com) June 17, 2026
Read Also: As Crypto “Wrench Attacks” Rise, Insurers Now Offer Kidnap-And-Ransom Coverage
Photo Courtesy: PJ McDonnell on Shutterstock.com
UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.
This article Bitcoin, Ethereum, XRP, Dogecoin In Red Even As Trump Signs Iran Peace Deal: Analyst Says BTC In 'Fragile Recovery Phase' originally appeared on Benzinga.com
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Terms and Privacy Policy
Search
RECENT PRESS RELEASES
Related Post
