Bitcoin is trading at $73,500 on Monday, June 1, 2026, as the crypto market stays volatile this week. The price action comes amid reports that the U.S. and Iran are moving closer to ending their conflict, though major obstacles remain. Against this backdrop, three tokens — SUI, ONDO, and Pi Network — are being flagged as undervalued, weighed down by market wariness, network reliability concerns, token unlocks, and steep weekly drops.
Why the market's still jumpy
The past week has been anything but calm. Bitcoin's held above $73,000, but the broader market has seen sharp swings. Traders are watching the U.S.-Iran talks closely — any breakthrough could shift risk appetite, while stalemate might keep pressure on. The volatility isn't isolated to BTC either; altcoins have been hit harder, with several posting double-digit declines.
U.S.-Iran talks: progress, but not done
Negotiators have made headway toward ending the long-running conflict, according to multiple reports. But the phrase “major obstacles remain” is doing a lot of work. No deal is signed yet, and the crypto market tends to overreact to geopolitical headlines. So far, the reaction has been muted price action rather than panic or euphoria.
Three tokens in the discount bin
SUI, ONDO, and Pi Network are getting a hard look from traders this week. All three are considered undervalued, but for different reasons. SUI has been dogged by network reliability worries — outages earlier in the quarter haven't been forgotten. ONDO faces a looming token unlock that could flood supply. Pi Network, still in its enclosed mainnet phase, has seen skepticism about its long-term viability. Combined with substantial weekly losses, the trio is trading at levels some market participants see as a bargain — if the fundamentals hold.
Token unlocks are a particular concern: when large amounts of previously locked tokens become tradable, the selling pressure can be intense. ONDO's unlock is scheduled for later this month, and the market is already pricing in that risk. For Pi Network, the uncertainty around its open mainnet launch keeps buyers on the sidelines.
For now, all eyes are on the Iran talks and the token unlock calendar. SUI, ONDO, and Pi Network will need to prove their networks can handle the heat — or their current discounts might become new ceilings. No firm timeline on either the diplomatic deal or the unlocks, so traders are in a wait-and-see mode.
