Crypto markets retreat as investors await US-Iran deal
Major digital assets fall away from riskier positions as geopolitical uncertainty dominates sentiment, with markets watching for developments in Washington and Tehran.
Bitcoin and Ethereum prices declined on Monday, June 1, 2026, as investors shifted away from riskier assets amid geopolitical uncertainty. According to data reported by Yahoo Finance, Bitcoin (BTC-USD) opened at $73,568.40, a 0.3 per cent decrease from Sunday’s opening price. By 9:56 a.m. ET, the leading cryptocurrency had fallen further to $71,400.64.
Ethereum (ETH-USD) experienced a similar downturn, opening at $2,004.03, which represented a 0.8 per cent drop from the previous day. The asset continued to slide, reaching $1,960.76 by the same 9:56 a.m. ET timestamp. The intraday movements reflect a cautious approach from market participants waiting for clarity on international relations.
Investor sentiment is currently focused on developments regarding a US-Iran agreement and a potential ceasefire extension under President Trump. Markets are anticipating a 60-day ceasefire extension, with specific attention on efforts to reopen the Strait of Hormuz. President Trump has publicly stated that the deal will “work out well” for the United States, although key sticking points on both sides continue to cast doubt on the prospects for long-term peace.
The broader geopolitical landscape adds to the complexity, with a recent US-China summit in Beijing addressing trade, artificial intelligence, and tensions in the Strait of Hormuz. The summit, attended by major technology CEOs including Elon Musk, Tim Cook, and Jensen Huang, marks the first visit by an American president to China since 2017. These discussions occur against a backdrop of high volatility in global markets.
Historical data provides context for the current price action. Bitcoin reached its all-time high of $126,198.07 on October 6, 2025, while its all-time low was recorded at $0.04865 on July 14, 2010. Ethereum’s peak was $4,953.73 on August 24, 2025, with a low of $0.4209 on October 21, 2015. As the week progresses, investors are likely to monitor further signals from Washington and Tehran to determine the direction of digital asset valuations.
