BTC rebounds 0.92% in the short term: the US-Iran ceasefire agreement eases safe-haven demand, and risk-asset sentiment rebounds

From 16:00 to 16:15 (UTC) on June 2, 2026, BTC rebounded rapidly within 15 minutes, with a return rate of +0.92%. The price range was 67,229.2 to 67,973.0 USDT, with a volatility of 1.11%. This rebound occurred after Bitcoin briefly bottomed at $70,466 following a break below the key support level of $71,000, and the market showed clear demand for a technical correction, with volatility significantly increasing.

The main driver of this move was the substantial easing of geopolitical risk. In the early hours of June 2, 2026 (UTC), the U.S. and Iran announced a two-week ceasefire agreement. Oil prices fell sharply by 12-14%, and the geopolitical risk premium was quickly removed from the market. As Bitcoin, often dubbed “digital gold,” its safe-haven appeal may have declined, but the risk-asset attribute dominated, pushing the price to briefly break above the $72,000 level after the news was released.

In addition, buy-side response at key technical support levels played an important role in the rebound. After the price dropped to the $70,466 key level, it triggered conditions for algorithmic buying. At the same time, some quantitative strategies also initiated buy orders at support. Long-term value investors viewed the price as attractive for entry, while short sellers taking profits helped drive the price back up. On-chain data also showed that whale addresses continued to net inflow; the Whale Ratio remained high, and long-term holders’ confidence provided bottom support to the price.

Short-term volatility risks still need to be watched. Geopolitical uncertainty remains, and Iran has made it clear that the ceasefire does not mean the conflict is over. On the technical front, Bitcoin is still facing a test of the $71,000 key resistance level. Institutional funds have exhibited a tactical “stop-and-go” pattern, and the persistence of ETF inflows remains in question. Going forward, it will be important to focus on developments in the geopolitical situation, on-chain fund flows, and how support and resistance near $71,000 are likely to flip.