BTC Recovers $100K Level in Asia Trading as Investors Downplay Iran Strikes

Bitcoin Recovers Above $100,500 as Geopolitical Jitters Ease; OKX Reportedly Eyes U.S. IPO

Bitcoin has reclaimed levels above $100,500 as Asian markets open the week, stabilizing after recent turbulence sparked by U.S. airstrikes on Iranian nuclear sites.

The leading cryptocurrency briefly dipped below $100,000 on Sunday amid a wave of risk-off trading. However, financial markets have since regained their footing. Stock futures were steady, and gold edged only slightly higher, suggesting investors aren’t currently expecting a dramatic escalation in the U.S.-Iran conflict.

Market analysts believe the muted reaction reflects a view that any Iranian response might be delayed or measured, reducing the risk of immediate fallout.

Oil prices remain firm around $76 per barrel after jumping nearly 4% Sunday evening on concerns that Iran could block the Strait of Hormuz, a crucial route for global oil shipments. Still, the restrained market tone and cautious comments from U.S. officials suggest investors are waiting for clearer signals before taking bigger positions.

In the crypto sector, altcoins that fell alongside bitcoin over the weekend—including ether (ETH), XRP, and Solana’s SOL—are also showing signs of recovery.

For now, traders appear to view the U.S.-Iran tensions as a geopolitical flashpoint rather than a deeper threat to financial stability.

---

OKX Considers U.S. Public Listing

Crypto exchange OKX is reportedly exploring 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. market after settling charges with the Department of Justice for operating without a money transmitter license.

OKX joins several crypto-focused firms considering public listings to tap investor demand for digital asset exposure. Bullish, which owns CoinDesk and competes with OKX, is also reportedly evaluating an IPO.

Contacted by CoinDesk, OKX declined to comment on the IPO report.

---

Polymarket Traders Reduce Bets on Immediate U.S.-Iran Escalation

Bettors on the prediction platform Polymarket are growing less certain that the U.S. will launch further strikes against Iran this month.

The odds on a Polymarket contract asking whether the U.S. would conduct another strike by June 30 have dropped to 54%, down from 74% following the initial airstrikes.

Similarly, bets on Iran closing the Strait of Hormuz have eased slightly, with that contract now trading at 49%, down from 52%. This suggests traders are leaning toward a diplomatic resolution rather than rapid escalation.

---

Market Highlights

• BTC: Bitcoin rebounded to $101,419 after a volatile 4.5% swing, finding strong support near $99,000 amid geopolitical headlines and institutional interest, according to CoinDesk Research’s technical data.
• ETH: Ethereum fell 2.3% to $2,237 amid U.S.-Iran concerns, slipping out of a six-week trading range despite over $500 million in recent institutional inflows.
• Gold: Analysts at Bank of America project gold could climb to $4,000 an ounce within the next year—a potential 18% gain—driven less by geopolitical risks and more by soaring U.S. fiscal deficits and central bank moves away from the dollar.
• Nikkei 225: Asian equities slipped Monday as Middle East tensions lifted oil prices and stoked broader regional worries, with Japan’s Nikkei 225 falling 0.56%.

About The Author