Bitcoin Fails to Rally with Rest of Market Amid Iran Deal Optimism

Bitcoin's price stalled at $67,217 on Monday before retreating to $66,500 on Tuesday, a mere 0.3% gain over 24 hours that underperformed the S&P 500 and Nasdaq 100's rally.

The Iran deal optimism failed to generate a stronger crypto response, with traders seemingly not buying into the narrative yet.

Bitcoin round-tripped relief rallies in April and June, and this third truce attempt is met with caution, particularly given President Trump's condition that the deal may be called off if Iran refuses to shut down its nuclear program.

The market is discounting the durability of the deal, and as a result, Bitcoin's price barely budged compared to risk assets like oil and equities.