Bitcoin Closes the Month Above $107,000 Despite Geopolitical Tensions in the Middle East

Stay up to date with our monthly market commentary:

• U.S. spot Bitcoin ETFs saw three weeks of net inflow in June. 
• ProCap BTC is the latest newcomer amongst Bitcoin treasury companies. 
• Bitcoin (BTC) closed the month up 4.2%, while Ether (ETH) is down 2.4% compared to last month.*

Market Overview - June 

The price of Bitcoin (BTC) increased by 4.2% in June, closing the month at around the $107,500 mark.

Bitcoin started the month with a steep drop below the $100,000 mark when war broke out between Israel and Iran on June 13th. 

After 44 days above $100,000, BTC dipped in line with tech stocks as investor uncertainty dominated the market in response to the armed conflict in the Middle East. 

A rumored ceasefire agreement on June 24th helped stabilize the situation, giving both Bitcoin and equities a boost. Currently, the conflict still remains unresolved, and both parties have broken the ceasefire agreement.

However, within 48 hours after the ceasefire agreement news broke, Bitcoin recovered by more than 7% to $107,650. At one point, BTC was even edging close to the $109,000 mark, just 2% below its all-time high. 

Tech stocks and indices such as the S&P 500 paint an even better picture. Both the index and various companies such as Coinbase (COIN), Microsoft (MSFT), and NVIDIA (NVDA) all celebrated a new all-time high in June.  

In addition, the Federal Reserve held its monthly rate decision meeting, where it announced no further changes to interest rates. However, the central bank expects inflation to remain elevated and anticipates lower economic growth ahead.

Crypto Asset Market Performance Review 

The crypto asset market closed mostly in the red in June, with Bitcoin (BTC) and Ripple’s XRP as the only digital assets to close with gains. The remainder of the crypto asset market finished the month down 5% to 15%.

BTC followed its strong run from April and May, with a 4.2% increase in June, closing the month at $107,500. 

The largest cryptocurrency in the world has seen an increase in institutional interest in both spot Bitcoin ETFs and publicly traded companies that are establishing Bitcoin treasuries. 

The second top-performing asset among the largest digital assets by market cap was Ripple’s XRP. 

XRP managed to close the month up 1.2% following news from Ripple Labs’ ongoing SEC lawsuit, where Ripple’s fine has reportedly been reduced to $50 million from $125 million, pending the judge's approval in July. 

June was a disappointing month for the remainder of the crypto asset market, with more prominent assets, such as Ether (ETH), Cardano (ADA), Solana (SOL), and Polygon (POL), dropping by 2.4%, 16.3%, 2.5%, and 12.9%, respectively. 

Institutional Interest in Bitcoin

There was significant institutional interest in Bitcoin in June, with new Bitcoin treasury companies, such as ProCap BTC, emerging and immediately buying Bitcoin, as well as three out of four net inflow weeks for U.S. spot Bitcoin ETFs. 

U.S. Spot Bitcoin ETFs Saw Three Out of Four Net Inflow Weeks in June, Despite Global Tension in the Middle East

June was a great month for U.S. Bitcoin ETF issuers. All funds saw three out of four net inflow weeks. 

The last week of June was especially exciting because it was only the third week in 2025, when the weekly total net inflows into Bitcoin ETFs exceeded $2 billion. The other two weeks with net inflows above $2 billion happened in April and May. 

Considering that escalating tensions in the Middle East had a negative short-term impact on the digital asset and equities markets, these numbers in June are even more impressive, indicating a growing trend of institutional interest in Bitcoin. 

In total, all U.S. spot Bitcoin ETFs hold over $133 billion in net assets under management. 

Anthony Pompliano’s ProCap Financial Inc. Is the Latest Publicly Traded Company to Raise Capital and Buy 4,932 BTC

In June, prominent investor and public figure Anthony Pompliano announced that he’s taking his company, ProCap BTC, public through a $1 billion merger with Columbus Circle Capital Corp I (CCCM), in a special-purpose acquisition company (SPAC) sponsored by an affiliate of Cohen & Company.

The newly formed entity will focus its efforts on developing new financial services for the Bitcoin industry and Wall Street by establishing the company as a Bitcoin treasury company. The company had raised $550 million in preferred equity and $225 million in convertible notes even before the merger deal closed. 

Pompliano called it the largest initial funding round for a public Bitcoin treasury company and would follow that a week later with the announcement of the company’s first Bitcoin purchase of 4,932 BTC. 

Bitcoin on Balance Sheets

Strategy, the largest publicly traded holder of Bitcoin, didn’t stop its continuous effort in buying Bitcoin as a strategic reserve asset. In June, the company purchased 12,095 BTC in total, bringing its total balance sheet holdings to 592,345 BTC. 

ProCap Financial Inc., a publicly traded company in the U.S., is the latest Bitcoin treasury company that emerged in June. Its CEO, Anthony Pompliano, announced the company's founding in early June and, within the month, it acquired 4,932 BTC on its balance sheet. 

Metaplanet, a publicly traded Japanese company, announced this month that it will issue $208 million in 0% interest rate ordinary bonds to acquire more Bitcoin. The company was also buying Bitcoin and ended the month with 13,350 BTC on its balance sheet. 

The Smarter Web Company, a UK-based public company specializing in web development and digital marketing services, acquired 460.3 BTC, bringing the company’s total BTC holdings to 543.5 BTC on its balance sheet. 

Semler Scientific, a publicly traded company in the U.S., acquired 185 BTC, bringing the company's total BTC holdings to 4,449 BTC on its balance sheet. 

‍*Closing price data is from June 30, 2025, at 15:30 CEST