The rally also followed several easing pressures. The United States and Iran moved toward a formal peace deal. A signing ceremony is set for June 19 in Switzerland.
The deal would reopen the Strait of Hormuz. The EIA says the chokepoint handles about 20% of global petroleum. That could further reduce oil pressure and support risk assets.
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Meanwhile, the SpaceX IPO removed another liquidity drain. Kendrick had linked Bitcoin ETF selling to IPO fundraising. With that pressure fading, the market gained another supportive backdrop.
The Federal Reserve now takes center stage. Its two-day policy meeting opened on June 17. Investors are waiting for fresh guidance on the rate path, while Standard Chartered still expects Bitcoin to finish the year at $100,000.