Bitcoin Stabilizes Near 200-WMA as Senate Passes War Powers Act to End US-Iran War
Bitcoin price holds and stabilizes near its 200-week moving average (200-WMA) amid easing geopolitical tensions. The U.S. Senate passed a bipartisan resolution invoking the War Powers Act to end the Iran war, with President Donald Trump criticizing the decision.
S&P 500 and Nasdaq 100 futures are also surging on Wednesday after the Senate votes to limit Trump’s power to continue military actions in Iran. Oil and gold prices fall amid progress in US-Iran peace talks.
US Senate Votes to Block Trump from Military Actions Against Iran
The Senate has voted 50-48 on the War Powers Act resolution to end the US-Iran war. Four Republicans joined Democrats to pass the resolution requiring President Trump to seek congressional approval before launching further military action.
The House previously passed the resolution and has signaled growing congressional concerns over military operations for months. This marked the first historic vote on a war powers resolution to clear both chambers since 1973, setting up major limitations over presidential authority to wage war.
This is a concurrent resolution by Senate and House, which doesn’t carry the force of law or require the president’s signature, making it largely symbolic.
Meanwhile, Trump said he has Iran “on the ropes, ready to go down for the fall” and the “US Senate decides to have a poorly timed and meaningless War Powers Act vote.” He added that Senators made his job more difficult, but claimed “I will get it done, one way or the other.”
— Rapid Response 47 (@RapidResponse47) June 24, 2026
Bitcoin Climbs Above Key 200-WMA Level
Oil prices eased to $72 per barrel and Treasury yields softened on the news, creating a risk-on sentiment for Bitcoin and stocks. Bitcoin stabilizes and moves above its key 200-WMA at $62,450.
BTC price is currently trading at $62,702 after the crypto market crash. The 24-hour high and low are $64,016 and 61,893, respectively. Trading volume has also increased by 30% over the past 24 hours, indicating a rise in sentiment among traders after the Senate voted to end US-Iran war.
Meanwhile, CoinGlass data also showed slight buying in the derivatives market. At the time of writing, the total BTC futures open interest jumped 0.25% to $45.63 billion in the last hour. BTC futures OI on CME and Binance climbed more than 0.31% and 0.23%, respectively.
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