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.

Grok AI, described as Elon Musk's model, flags Bitcoin's more-than-50% drawdown as an accumulation setup and projects $150,000 to $225,000 by the end of 2026. With BTC around $62,800–$62,857, the forecast implies a 2.5x to 3.5x move while the analysis highlights support at $60,000 and the $55,000 to $70,000 range as pivotal.

Bitcoin (BTC) traded below $62,000 near $61,754.56 as demand indicators weakened, with a 30-day combined spot and perpetual futures demand growth reading of -650,000 BTC. The report notes BTC fell 8% this week after a 14% drop last week, putting monthly performance at -24%. Analysts highlighted $62,800 (200-week SMA) as overhead resistance and $65,000 as a key level to reclaim.

On June 9, European Commission President Ursula von der Leyen announced the EU's 21st Russia sanctions package, including a mechanism that could bar crypto-asset services tied to foreign countries deemed to help sanctions evasion. Hours later at SPIEF 2026, Russia's Deputy Finance Minister Ivan Chebeskov said Russia would impose fees of up to 3% on Western-linked stablecoins, including USDT and USDC. The package also expands transaction bans to additional entities and adds more Russian banks to existing restrictions.

Bitcoin traded near $61,100 on Wednesday, down 3% in 24 hours and 6.9% on the week, as a stronger May U.S. jobs report pushed expectations for higher rates and triggered broad risk-off selling. Gold also fell 2% to below $4,200 per ounce, while the 10-year Treasury yield rose to 4.54% and markets priced a 75.5% chance of rate hikes before year-end. The report showed 172,000 non-farm payrolls versus a 130,000 consensus estimate, with April revised up to 214,000.

XRP traded around $1.16–$1.18, rising more than 2% on the day even as broader crypto prices weakened and Bitcoin stayed below a key resistance zone. The report says XRP's weekly decline is under 8%, compared with about 10% for Bitcoin and 16% for Solana, while technical levels highlight resistance at $1.18, $1.21 and $1.26 and support at $1.10, $1.06 and $1.03.

A group of more than 200 crypto companies sent a joint letter on June 7–8 urging Senate leaders John Thune and Chuck Schumer to bring the CLARITY Act to a floor vote "without delay." The bill advanced out of the Senate Banking Committee 15–9 on May 14 and reached the General Orders Calendar by June 1, but a vote has not been scheduled as lawmakers face a July 4 signing target and an approaching August recess.

Circle launched cirBTC on June 8, 2026, introducing a 1:1 BTC-backed ERC-20 token on Ethereum mainnet designed for institutional users and DeFi collateral use cases. The company is positioning the product against BitGo's WBTC, described at roughly $9 billion in market value and about 85% share, highlighting real-time on-chain reserve verification via Chainlink Proof of Reserve.

On June 8, Bitcoin rose about 5% to $64,000 after Donald Trump said a U.S.-brokered Iran agreement was "almost complete" and suggested an announcement could come at the start of the new business week. BTC later slipped back toward $63,000 after touching resistance near $64,000, while traders continued to watch support at the June 5 low of $59,100 and nearby pivot levels around $62,500–$63,000.