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Saxo Bank: Bitcoin Struggles to Find Direction After US-Iran Agreement

As investors await clarity on the details of the temporary peace agreement between the United States and Iran, Bitcoin is struggling to find direction. Analysts at Saxo Bank stated in a report: "The temporary agreement is set to be signed on Friday in Switzerland, but the unpublished memorandum text keeps investors cautious." They noted that although market sentiment for risk assets, including digital assets, has improved, spot Bitcoin exchange-traded funds have recorded net outflows for the fifth consecutive week. Investors are also looking forward to the Federal Reserve's policy decision on Wednesday. According to data from the London Stock Exchange Group, Bitcoin reached a 12-day high of $67,241 on Monday and is currently flat at $66,491. It has slightly rebounded from a 20-month low of $59,125 reached on June 5.

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