Analysis: De-escalation of US-Iran Tensions Boosts Bitcoin Rebound, Market Reversal Still Awaits ETF Inflows and Buying Interest Confirmation

June 13 Bitcoin Update: BTC plunged from nearly $73,000 to under $60,000 before bouncing back to around $63,500. At this level, it’s down roughly 50% from its October 2025 all-time high of ~$126,000. While this pullback has pushed Bitcoin into the valuation band typically linked to bear market bottoms, there’s been none of the panic selling that usually signals a definitive market bottom. One key catalyst for the recent drop? A noticeable shift in Michael Saylor’s Strategy. The firm disclosed on June 1 that it sold 32 BTC for about $2.5 million to cover preferred stock dividends. Though that sum is tiny compared to its roughly 845,000 BTC holdings, the market framed it as a major departure—Saylor has long clung to his mantra of “never selling Bitcoin.” Strategy may be testing a new approach to using BTC as a corporate treasury asset by offloading small amounts, rather than just holding long-term. Earlier Iran tensions added extra pressure, lifting oil prices and amplifying fears of sustained high interest rates, which turned BTC into more of a high-beta Nasdaq proxy asset for a stretch. Then macro tailwinds sparked the rebound: Trump claimed the U.S. had effectively ended its war with Iran, officials flagged progress on a potential deal, Brent crude slid to around $85, U.S. stocks rallied, and SpaceX went public on the Nasdaq Friday, closing at $161—19% above its $135 IPO price, a big boost to overall risk appetite. Bitcoin’s 4.7% weekly gain masks more volatility than it looks: it dipped into what long-term valuation models peg as undervalued territory, stabilized without a forced liquidation spiral, and bounced on improved macro news. Still, a full market reversal isn’t here yet. It will need a return of demand: steady ETF fund flows, buyers stepping back in, and enough liquidations of losing positions to clear weak hands.