Bitcoin fell to $71,400.64 on Monday morning, June 1, after opening at $73,568.4, as traders pulled back from riskier bets while watching whether President Trump would sign a 60-day ceasefire extension tied to talks with Iran. Ethereum also slid, dropping to $1,960.76 from an opening level of $2,004.03 by 9:56 a.m. ET.
For investors following tradingview charts before the U.S. open, the move mattered because crypto had already been moving lower as the market looked for a clearer path toward a deal that could ease pressure around the Strait of Hormuz. Bitcoin was 0.3% lower than Sunday’s opening price, while ethereum was down 0.8%, a sign that many investors were shelving riskier positions for the moment.
The pullback came even as bitcoin and ethereum had both spent months trading far below their recent peaks. Bitcoin hit an all-time high of $126,198.07 on Oct. 6, 2025, after starting its life at just $0.04865 on July 14, 2010. Ethereum reached $4,953.73 on Aug. 24, 2025, having once traded as low as $0.4209 on Oct. 21, 2015.
That backdrop only sharpened the market’s sensitivity to Washington and Tehran. Bitcoin investors were eager for an agreement between the U.S. and Iran, and they were watching for any signal that a deal was closer to reopening the Strait of Hormuz, a chokepoint that can quickly change the risk mood across markets. Trump said the arrangement would “work out well” for the U.S., but key sticking points on both sides still left long-term peace prospects on shaky ground.
That is why the next move that matters is not another price print but whether Trump actually signs the ceasefire extension and whether the talks produce something concrete enough to calm investors. If that does not happen, the safe-haven mood that pushed crypto lower on Monday is likely to linger.
