Bitcoin Recovery Hinges on US-Iran Deal; CFTC Hires SEC Crypto Adviser, MicroStrategy Buys More BTC

Today in crypto, Strategy's latest Bitcoin purchase pushed its holdings to 846,842 Bitcoin, as the cryptocurrency’s continued recovery hinges on a successful deal between the US and Iran. Meanwhile, the CFTC poached an SEC crypto task force adviser with a strong blockchain forensics background.

Bitcoin recovery rests on US-Iran deal as momentum remains weak

Bitcoin’s continued recovery is hinged on a successful peace deal between the US and Iran as Swissblock shows on-chain metrics signal the cryptocurrency remains weak despite its recent recovery.

LVRG Research director Nick Ruck told Cointelegraph that despite Bitcoin (BTC) reclaiming $67,000 on Monday, its “momentum remains weak, with declining volume and stagnant on-chain metrics indicating that the recovery lacks conviction and could quickly fade.”

Swissblock said on Monday that Bitcoin’s price momentum, measuring the strength of its price movements, and on-balance volume (OBV), which measures buying and selling pressure, remain in a “weak momentum and participation regime.”

Price momentum and OBV remain at bear market lows. Source: Swissblock

Ruck said that if the peace deal between the US and Iran breaks down, the following geopolitical instability and potential oil shocks would see Bitcoin “face a volatile path” as geopolitical catalysts “continue to dominate crypto price action.”

US President Donald Trump said on Sunday that the US had completed a peace deal with Iran to end months of conflict, which is expected to be signed on Friday. Much of the deal remains unknown, but Trump said it would see the Strait of Hormuz reopen and the US lift its blockade.

CFTC hires SEC crypto task force adviser with blockchain forensics chops

The US Commodity Futures Trading Commission (CFTC) has hired a new chief data innovation officer with deep experience in blockchain forensics in what could be seen as the regulator's move toward greater focus on the technology.

In a Monday notice, CFTC Chair Michael Selig said that Donald Battle, an adviser to the US Securities and Exchange Commission (SEC) crypto task force, would be the commission’s chief data innovation officer. Battle was appointed as an SEC crypto task force adviser in January 2025 with the incoming Trump administration, and previously worked as a blockchain data adviser for the CFTC and crypto enforcement specialist with the Treasury Department’s Financial Crimes Enforcement Network.

Selig cited Battle’s experience in “data science, blockchain forensics, programming interfaces, and cutting-edge AI solutions” among his reasons for his pick.

The appointment signaled the agency moving closer to addressing crypto regulation and enforcement at a time when Congress is seeking to overhaul the CFTC’s and SEC’s roles with a digital asset market structure bill, the CLARITY Act.

Source: CFTC on X.com

Saylor’s Strategy buys 1,587 BTC for $100M, holdings hit 846.8K

Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, added to its cryptocurrency reserves last week as BTC continued to trade below the company’s average cost basis of about $75,700.

Strategy acquired 1,587 Bitcoin (BTC) for $100 million between June 8 and 14, according to Monday's 8-K filing with the US Securities and Exchange Commission.

The purchase was made at an average price of $63,024 per Bitcoin, bringing the company’s overall average cost basis slightly lower to $75,656.

Source: SEC

With the latest buy, Strategy now holds 846,842 BTC, accumulated at a total cost of $64.07 billion. At the current price of about $66,216 per bitcoin, those holdings are worth roughly $56.1 billion, according to CoinGecko data.