Home
Cryptocurrency
Cryptocurrency News
Bitcoin Nears Key Resistance Level as US Iran Talks Lift Market Sentiment

Bitcoin Nears Key Resistance Level as US-Iran Talks Lift Market Sentiment

Positive developments in US-Iran talks and stronger on-chain activity support crypto market stability.

Written by Rahul Dhingra, Edited by David Delima | Updated: 23 June 2026 14:08 IST

Photo Credit: Unsplash/Mariia Shalabaieva

Reduced exchange-held Bitcoin signals lower immediate selling pressure

Click Here to Add Gadgets360 As A Trusted Source

Highlights

Bitcoin exchange balances fall to the lowest level since 2019
US-Iran developments improve sentiment across risk assets
Key resistance zone remains between $65,500 and $66,000

Bitcoin traded near $62,900 (roughly Rs. 59.54 lakh) on Tuesday, as the cryptocurrency market remained under pressure despite improving sentiment around US-Iran relations and renewed institutional inflows. The world's largest cryptocurrency witnessed a decline of 2.1 percent in the market over the last 24 hours, based on today's CoinMarketCap data. Ethereum (ETH) was trading near $1,700 (roughly Rs. 1.60 lakh), reflecting weakness across the broader crypto market. Bitcoin is currently priced around Rs. 59.5 lakh, while Ethereum trades near Rs. 1.59 lakh in India, as per today's Gadgets 360 price tracker.

Market participants believe that developments relating to positive news on the US-Iran talks, decline in crude prices, and stabilisation in institutional demand have been behind the positive sentiment. However, there is still caution before inflation and labour market figures that can impact Fed expectations.

Cryptocurrency Discussion

Explore More...

Across the broader crypto market, major altcoins traded lower alongside Bitcoin as investors remained selective despite improving market conditions. Binance Coin (BNB) was priced around $580.26 (roughly Rs. 54,950), while Solana (SOL) traded near $70.26 (roughly Rs. 6,654). XRP hovered around $1.11 (roughly Rs. 105), and Dogecoin (DOGE) was trading close to $0.080 (roughly Rs. 7.6), indicating that traders continue to favour a cautious approach.

Secret Network Bridge Exploited for $4.7 Million Through Infinite Mint Bug

ETF Inflows and Economic Data Remain in Focus

Sharing his assessment of current price action, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Despite continued ETF outflows, underlying network fundamentals remain strong. On-chain activity has picked up significantly, and the amount of Bitcoin held on exchanges has dropped to its lowest level since 2019, indicating reduced selling pressure.”

Providing a broader view of current market conditions, Vikram Subburaj, CEO, Giottus.com, said, “Market sentiment has improved slightly. US spot Bitcoin ETFs recorded net inflows of about $104 million (roughly Rs. 98.50 crore) on June 22. This reversed some of the weakness seen earlier in the month. The inflows also suggest that institutional interest may be stabilising after a prolonged period of outflows [...] Investors should avoid excessive leverage, maintain disciplined risk management, and focus on gradual accumulation rather than reacting to short-term market swings.”

Commenting on near-term market trends, the CoinSwitch Markets Desk said, “On the macro side, the US Dollar Index crossed 101, and rising Treasury yields above 4.5 percent weighed on BTC. Corporate demand stayed visible, with Strive picking up 759 BTC. Meanwhile, cooling US-Iran tensions and softer oil prices are helping improve the macro sentiment. On the derivatives side, the perpetual futures funding rate ticked up to 7 percent, its highest in nearly three weeks, pointing to growing appetite for bullish positions, though it stays within neutral territory.”

Overall, analysts felt that the crypto market was displaying stabilisation, thanks to the growing sentiments in the geopolitical sector, ETF flows, and on-chain metrics, which have helped compensate for the macroeconomic risks faced by the market. It will be important for BTC to sustain above the range of $63,200-$63,600 (roughly Rs. 59.85 lakh-Rs. 60.23 lakh) and re-enter the range of $65,500-$66,000 (roughly Rs. 62.04 lakh-Rs. 62.51 lakh).

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Cryptocurrency Prices across Indian exchanges

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Cryptocurrency, Bitcoin, Ethereum, Crypto Markets

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More