Bitcoin and ether slip despite Iran de-escalation

Bitcoin traded around $62,877, down about 1 percent on the day, while ether eased roughly 1.3 percent to near $1,858. The pullback came even as President Trump said he had called off a planned strike on Iran, citing a request from Tehran and other Middle Eastern countries and progress toward a deal.

Oil fell sharply on the news: West Texas Intermediate dropped 5.59 percent to $79.94 a barrel and Brent shed 4.63 percent to $83.86, as traders priced in reduced risk to shipping through the Strait of Hormuz. Crude remained roughly 20 percent above its pre-conflict level despite the drop.

Crypto's muted reaction to a genuine de-escalation headline suggests bitcoin and ether are trading more on positioning than on geopolitical risk premium right now.