Bitcoin hit $67,000 on Monday morning, up 4% in 24 hours, after Iran confirmed a memorandum of understanding to reopen the Strait of Hormuz. The news eased fears of a supply disruption that had weighed on markets since earlier ceasefire collapses. Separately, Strategy (MSTR) disclosed it bought another 1,587 BTC, while U.S. spot Bitcoin ETFs logged their first net inflow day in over a month — all just ahead of the Federal Reserve's June 16–17 meeting.
The Strait of Hormuz trade
Iran's MoU to restore access through the strategic waterway gave risk assets a lift. Bitcoin had reversed previous relief-driven gains after ceasefires fell apart in April and again on June 9. This time the price held above $65,000 and pushed through $67,000. The move coincides with broader institutional interest — Coinbase, Robinhood, and Circle each surged more than 5% Monday.
Strategy keeps stacking
Between June 8 and June 14, Strategy acquired 1,587 BTC for roughly $100 million, bringing its total hoard to 846,842 BTC. The company funded the purchase through its at-the-market stock offering program. Strive (ASST), a related equity, rose nearly 16% to $17.50, recovering from a three-month low of $9.00 in early April. The timing isn't great for skeptics — MSTR's buying spree has been relentless even as ETF flows were bleeding.
ETF flows turn positive — for a day
Bitcoin spot ETFs had posted five straight weeks of net outflows totaling nearly $1.8 billion. Then on June 12, that streak broke: $85.85 million in net inflows, led by BlackRock's IBIT and Fidelity's FBTC. Bitfinex analysts caution the recent price recovery reflects seller exhaustion and a macro reprieve rather than genuine new demand. They say sustained growth will require continued ETF and Treasury/DAT company inflows.
What comes next
All eyes are on the Fed. Chair Kevin Warsh's first FOMC meeting starts Tuesday. Inflation sits at 3.8%, and while markets expect a hold at 3.50%–3.75%, rate hikes are on the table. The other big date is June 19 in Switzerland, which the market views as a key validation point for the current rally. With two ceasefire failures already this year, traders know geopolitical deals can unravel fast. Whether this one sticks — and whether the Fed cooperates — will determine if $67,000 is a floor or a peak.
