Bitcoin briefly surpassed $64,000 amid optimism over diplomatic progress between Iran and the United States, but analysts warn of potential downside risks. Technical analyst Jesse Olson outlined a scenario where BTC could fall to around $24,000 if the broader stock market crashes. Concurrently, institutional demand appears weak, with spot Bitcoin ETFs experiencing six consecutive weeks of net outflows.
Diplomatic talks between Iran and the United States showed early progress, briefly pushing Bitcoin above $64,000. The asset later retreated below that level as tensions lingered and a final deal remained unsigned.
Technical analyst Jesse Olson shared a scenario where Bitcoin could decline toward $23,979 by 2026. He stated such a move would likely require a major stock market downturn exceeding 50%.
Another commentator, Doctor Profit, said Bitcoin is forming a bearish flag on the daily chart. He expects the asset to eventually fall toward the $54,000-$56,000 range before finding a market bottom.
Spot Bitcoin ETFs saw net outflows of $227 million between June 14 and June 18. This extended their losing streak to six consecutive weeks, highlighting lagging institutional appetite.
Analyst Darkfost highlighted the persistently negative Coinbase Premium Index. He noted this indicates institutions on Coinbase are selling more aggressively than retail investors on Binance, creating downward pressure.
