Bitcoin prices climbed above $67,000 after U.S. President Donald Trump confirmed that the U.S. and Iran have signed a peace agreement, with the cryptocurrency rising more than 5% on Monday to an intraday high of $67,217 before settling near $66,560. However, Bitcoin's response was muted compared to broader market movements, with the cryptocurrency failing to match the scale of gains seen in equity markets. According to statements made by Trump ahead of a bilateral meeting with French President Emmanuel Macron, the peace deal has already been signed despite a formal signing ceremony still scheduled for Friday in Geneva. Trump added that Iran will reopen the Strait of Hormuz by Friday and that vessels passing through the waterway will not be charged tolls for 60 days. The rebound follows a period of heightened market volatility that had pushed Bitcoin below the $60,000 mark, sending it to its lowest level since October 2024. Asian equities also opened higher on Monday, with Japan's Nikkei 225 jumping roughly 4.89% by midday and South Korea's Kospi surging 5.63%, as reported by The Block. The CoinDesk 20 Index (CD20) posted modest gains with only a 2% move to roughly $65,700, though it remains 2.4% higher over 24 hours, reflecting the crypto market's cautious approach to geopolitical developments.
Santiment analysis suggests the U.S.-Iran peace deal could spark a new crypto bull cycle, with the on-chain analytics firm noting that investor sentiment has improved sharply after the agreement eased concerns about supply disruptions, inflation, and geopolitical tensions. In a June 15 X post, Santiment argued that the agreement has encouraged investors to focus on reopening trade routes, lowering economic uncertainty, and the prospect of more stable market conditions. The firm emphasized that financial markets often react before economic benefits become visible, with many participants now viewing the agreement as an early sign of stability after a volatile period that included inflation concerns and conflict-related uncertainty. "If inflation pressures ease and institutional investors finally begin feeling more comfortable themselves, the sharp gains following this announcement may end up looking less like a one-day relief rally and more like the opening chapter of a much larger bull cycle," Santiment stated. Despite the optimistic outlook, the firm noted that expectations are playing an important role in the current rally, with markets reacting before economic benefits become visible.
Bitcoin changed hands at $65,845 on Tuesday, up 0.3% over 24 hours and 4.8% on the week, according to CoinDesk data, after touching a 24-hour high of $67,217 before fading. Ethereum held up better, rising 2.8% on the day to $1,784 and 5.8% on the week, while Solana gained 4.4% to $75, XRP added 3.2% to $1.22, and Hyperliquid's HYPE led the majors with a 6.3% advance to $69. The crypto market cap rose 4.7% to $2.37 trillion, with the total crypto market up by 4.7% over the past 24 hours. Jimmy Xue, co-founder and COO of Axis, noted that "Oil dropped more than 4% and Asian equities jumped more than 3% on the ceasefire, but BTC barely budged," calling it "a relief move that the market hasn't fully bought yet rather than clear risk-on redeployment into Bitcoin." Despite the cautious market approach, analysts like Chris Perkins from Franklin Templeton view it as "a constructive setup for risk assets, including crypto," particularly as the SpaceX IPO appears to have drained some retail liquidity from the crypto market.
Officials say both sides have signed the agreement, with Trump and Vice President J.D. Vance signing on behalf of the United States, while Iran's parliamentary speaker signed for Iran. The same official stated that the full agreement could be released within the next 48 hours. The deal provides for the immediate opening of the Strait of Hormuz and includes the removal of the U.S. blockade on Iranian ports. While the official noted that mines in the waterway would delay a full reopening, they said shipping traffic through Hormuz is expected to increase over the next one to two weeks. Iran reaffirms its commitment not to pursue nuclear weapons while negotiations begin over its 9,000kg+ enriched uranium stockpile under international supervision. CNN reported Sunday that the US and Iran have agreed to a peace deal that will take effect on Friday, following the initial June 14 announcement. A formal signing ceremony is scheduled for June 19 in Switzerland, as reported by multiple sources. Trump also stated that the deal may be called off if Iran does not agree to shut down its nuclear program, adding another layer of uncertainty to the agreement.
Crude oil prices fell more than 12% from around $87 to around $76 per barrel on the peace deal announcement, with Brent crude slipping below $80 a barrel following the initial announcement. The Strait of Hormuz relief squashed $150 million worth of shorts in the cryptocurrency market, as investors now anticipate stabilization in the critical trade route. Trump also stated that oil shipments from the Persian Gulf could resume soon, reinforcing expectations that supply disruptions in the region may ease. WTI crude settled near $81 per barrel, down roughly 4.4% on the day, moving in the opposite direction as Bitcoin and other cryptocurrencies gained. "The crypto bounce was largely driven by macro risk-premium compression after Trump's latest signal that a US-Iran deal is very near, pushing oil lower and lifting Asian markets in tandem," said Jeff Ko, chief analyst at CoinEx. Investors are now anticipating stabilization in the Strait of Hormuz and a gradual recovery of Iranian production and exports, as the deal includes the immediate and permanent termination of military operations around the Strait of Hormuz. The Strait of Hormuz, which moves about 20% of global petroleum liquids consumption, remains central to market expectations, as a reopening would ease energy pressure and support risk appetite across Bitcoin and crypto markets.
The crypto market added 3.6% at the peak of the Iran deal rally, bringing its total market cap to $2.3 trillion, with Bitcoin crossing $67,000. Spot Bitcoin ETFs recorded $85.8 million in inflows, confirming that institutional demand returned alongside the broader risk-on move. However, the rally was short-lived as Kevin Warsh delivered his first Federal Reserve decision, holding rates at 3.5–3.75% but stripping the easing bias from its statement and dropping the last projected rate cut from the dot plot. Cuts in 2026 are no longer the base case, with Bitcoin slipping to $65,643 and Ethereum trading at $1,791, XRP at $1.22, and Solana at $73.56. The Fed's decision to maintain rates at current levels wiped out some of the gains from the Iran deal, as the rally had been driven by expectations of falling oil prices easing inflation and opening the door to rate cuts. The peace deal's inflation relief still needs to land in actual CPI data before the Fed will act on it, with the Strait reopening formally scheduled for June 19. How quickly cheaper oil feeds through to consumer prices will determine whether this rally has a second leg.
U.S. equities moved higher, with the S&P 500 adding 1.6% and the Nasdaq gaining 2.87% on the initial Iran deal day, though both slipped back the following session as questions grew about how quickly the Strait of Hormuz could reopen and the Federal Reserve meeting came into focus. The Dow Jones climbed 0.64% to a new record above 52,000 on June 16, supported by industrials and consumer names that benefit most directly from lower energy costs. Europe's STOXX 600 hit an all-time high of 639.20, while Japan's Nikkei 225 surged 4.99% on the day of the deal to close at a record 69,317, then briefly crossed 70,000 the following session for the first time in the index's history. Precious metals also joined the advance, with gold climbing around 0.8% and silver gaining roughly 1.2% during the session. Despite the bullish price action, analysts note that a move back below $65,000 would place the reclaimed support zone at risk and expose Bitcoin to another test of the $63,200-$64,000 area, where the recent breakout structure would begin to weaken. The prospect of renewed shipping activity through the Strait of Hormuz and lower energy costs coincided with gains across cryptocurrencies, U.S. equities, and precious metals, as reported by multiple sources.
