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Bitcoin Tops $100,500 as Markets Calm After U.S. Strikes on Iran; OKX Eyes U.S. IPO
As the new trading week kicks off in Asia, bitcoin (BTC) is trading above $100,500, regaining its footing as volatility tied to U.S. airstrikes on Iranian nuclear sites begins to fade.
After briefly dropping below $100,000 on Sunday amid a wave of risk-off sentiment, markets have since steadied. Equity futures remain largely unchanged, and gold is only slightly higher, suggesting that traders aren’t yet bracing for a significant escalation in geopolitical tensions.
The restrained reaction in traditional markets may reflect expectations that Iran’s response could be measured or delayed, rather than immediate and destabilizing.
Oil prices are holding firm near $76 per barrel after spiking nearly 4% Sunday evening on concerns that Iran might close the Strait of Hormuz—a critical shipping channel for global oil supplies. Still, cautious comments from U.S. officials and subdued early-week trading suggest investors remain in a wait-and-see mode.
Across crypto markets, altcoins that had mirrored bitcoin’s weekend drop—such as ether (ETH), XRP, and solana’s SOL—are also recovering their losses.
For the moment, markets seem to be treating the U.S.-Iran conflict as a geopolitical flare-up rather than a fundamental disruption.
OKX Mulls U.S. IPO, Report Says
Crypto exchange OKX is reportedly weighing a potential initial public offering (IPO) in the United States, according to The Information.
Earlier this year, OKX announced plans to expand into the U.S. after settling charges with the Department of Justice over operating without a money transmitter license.
OKX joins a list of crypto-related companies exploring public listings to capitalize on investor demand for exposure to digital assets. Bullish, the parent company of CoinDesk and a competitor to OKX, is also said to be considering an IPO.
When contacted by CoinDesk, OKX declined to comment on the report.
Polymarket Bettors Dial Back Odds of Second U.S. Strike on Iran
Bettors on the prediction platform Polymarket are growing less confident that the U.S. will launch another strike against Iran before month’s end.
The “yes” side of a contract asking whether the U.S. will carry out another military operation against Iran by June 30 has dropped to 54%, down from 74% in the immediate aftermath of the initial strikes.
Sentiment appears to be shifting toward a belief in diplomatic efforts on both sides, reflected in another Polymarket contract gauging the odds of Iran closing the Strait of Hormuz. That contract is now trading at 49%, down slightly from 52%.
Market Moves
- BTC: Bitcoin bounced back to $101,419 following a volatile 4.5% intraday swing, finding solid support at $99,000 as geopolitical tensions and institutional buying fueled activity, according to CoinDesk Research’s technical data.
- ETH: Ethereum slipped 2.3% to $2,237 amid U.S.-Iran tensions, breaking a six-week consolidation range despite over $500 million in recent institutional accumulation.
- Gold: Bank of America analysts project gold could climb to $4,000 per ounce within a year—a potential 18% rise—driven less by geopolitical strife and more by growing U.S. fiscal debt and a global move by central banks away from the dollar toward gold.
- Nikkei 225: Asia-Pacific markets fell on Monday as U.S. strikes in Iran fueled oil price spikes and concerns over broader Middle East instability, with Japan’s Nikkei 225 declining 0.56%.
