Bitcoin's recent price movement has lagged behind stocks and crude oil, reflecting market caution surrounding the US-Iran ceasefire agreement. Bitcoin briefly surpassed $67,000 before retreating below $66,000, while Brent crude oil fell below $83, and the S&P 500 and Nasdaq 100 rose 1.7% and 3.1%, respectively. The electronic memorandum of understanding on the ceasefire was signed by Trump and Vance, with the Strait of Hormuz set to fully open on Friday. Despite the ceasefire, Bitcoin's gains remain limited, with Bitcoin ETFs pausing outflows after four weeks of net outflows totaling $5.4 billion. Axis co-founder Jimmy Xue noted that the market has not fully embraced the rebound, and institutional buyers have yet to return significantly. Chris Perkins of Franklin Templeton suggested that an improved macroeconomic environment could attract retail funds back into the market. The potential passage of the Clarity Act and upcoming Federal Reserve decision are seen as short-term catalysts.