Bitcoin price stabilizes near the 200-week moving average (200-WMA) amid easing geopolitical tensions. The US Senate has passed a bipartisan resolution based on the War Powers Act to end the Iran war, with President Donald Trump criticizing the resolution.
S&P 500 and Nasdaq 100 futures also rose on Wednesday after the Senate voted to limit Trump’s authority to continue military operations in Iran. Oil and gold prices fell amid progress in US-Iranian peace talks.
The US Senate votes to prevent Trump from taking any military action against Iran
The Senate has risen Vote 50-48 regarding the War Powers Act Resolution to End the US-Iran War. Four Republicans joined Democrats to pass the resolution requiring President Trump to obtain congressional approval before launching further military action.
The House of Representatives had previously approved the resolution and pointed to growing concerns in Congress regarding military operations for months. It was the first historic vote on a war powers resolution to clear both chambers since 1973, placing major limits on presidential authority to wage war.
This is it Simultaneous resolution by the Senate and the House of RepresentativesIt does not carry the force of law and does not require the signature of the president, making it largely symbolic.
Meanwhile, Trump said he had Iran “on the ropes, ready to go down in the fall,” and “the US Senate decided to hold a vote on the War Powers Act that was ill-timed and meaningless.” He added that the senators made his job more difficult, but said, “I’ll get it done, one way or another.”
– Rapid Response 47 (@RapidResponse47) June 24, 2026
Bitcoin is rising above the key 200-WMA level
Oil prices fell to $72 per barrel and Treasury yields fell on the news, creating a risk-off sentiment for Bitcoin and stocks. Bitcoin is stabilizing and moving above its 200-WMA at $62,450.
BTC price is currently trading at $62,702 after Crypto market collapse. The 24-hour high and low are $64,016 and $61,893 respectively. Trading volume also rose by 30% in the past 24 hours, indicating high sentiment among traders following the Senate vote to end the US-Iran war.
Meanwhile, CoinGlass data also showed slight buying in the derivatives market. At the time of writing, total open interest in Bitcoin futures jumped 0.25% to $45.63 billion in the past hour. BTC OI futures on CME and Binance rose by more than 0.31% and 0.23%, respectively.
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