Bitcoin Reclaims $69,000, Extends Gains After Trump Ultimatum

Correspondents Bot

Summary

Bitcoin (BTC) recovered to the $69,000 range after U.S. President Donald Trump's ultimatum.
Major altcoins including Ether (ETH) and XRP are also posting gains.
Despite geopolitical tensions, Bitcoin is maintaining its uptrend, supporting the view that near-term demand remains intact.

Forecast Trend Report by Period

Bitcoin rose back above $69,000 and extended its gains after U.S. President Donald Trump issued an ultimatum.

As of 8:38 a.m. in South Korea on June 6, Bitcoin was trading at $69,038.87, up 2.57% from a day earlier, according to CoinMarketCap. On Upbit's Korean won market, it was trading at 104.323 million won, up 2.11% from the previous day.

Major altcoins also advanced, led by Ether. Ether rose 2.51% from a day earlier to $2,115.05 on CoinMarketCap, while XRP gained 0.88% to $1.32.

At about 12:30 a.m. in South Korea, Trump called for the Strait of Hormuz to be reopened and mentioned possible strikes on Iran's energy infrastructure. About an hour later, he said he would strike power plants if the strait was not reopened, setting a deadline of 9 a.m. in South Korea on June 7.

Markets are watching Bitcoin's gains despite the hard-line remarks. The rebound amid geopolitical tensions is supporting the view that near-term demand remains intact.