PANews reported on June 16th, citing Cointelegraph, that analysts say Bitcoin's recovery hinges on the success of a US-Iran peace agreement, and on-chain data shows that despite the recent rebound, Bitcoin remains weak. Nick Ruck, Research Director at LVRG Research, stated that although Bitcoin briefly recovered $67,000, "momentum remains weak, and declining trading volume and stagnant on-chain metrics indicate a lack of confidence in the rebound, which could quickly fade." If the US-Iran ceasefire agreement breaks down, Bitcoin will face a "volatile path," potentially initially attracting buying as a hedging asset before being pushed towards key support levels by broader risk aversion.

Swissblock stated on Monday that Bitcoin's price momentum and On-Balance Volume (OBV) indicators remain in a state of "weak momentum and low participation," both showing negative values. The price momentum indicator is -1, and the OBV is -1.7 million, near multi-year lows. Swissblock noted that in a typical bear market, momentum weakens first, followed by OBV contraction, and then the price breaks down. History suggests that stronger recovery signals appear when both indicators turn positive, and until then, "the risk of retesting the lows remains."