Bitcoin price moved past the $66,000 threshold on Wednesday as US President Trump explained the Iran deal in his press address at G7 Summit. According to reports from CoinDesk, the cryptocurrency's surge came as Trump delivered a high-stakes update on the U.S.-Iran Memorandum of Understanding during the G7 summit press conference on June 17, 2026. Trump confirmed the framework includes a ceasefire, full reopening of the Strait of Hormuz, limited sanctions relief, and Iran's pledge against nuclear weapons. However, as reported by The Times of India, Trump added a significant caveat: "We're going to bomb the hell out of them if they violate the agreement." This explicit threat has left markets holding a ceasefire that comes with an unwired condition for potential military action.
President Trump revealed that the stock market drove his decision to back the Iran deal, calling it "more brilliant than anybody" as equities hit record highs after Sunday's ceasefire agreement. According to The Times of India, Trump made these comments at the G7 conference in France, stating that "The stock market is quite brilliant. Every time we said something amazing like we are going to settle, it would go up. Every time we said something negative ... it would go down very big." He treated the market as a live referendum on his Middle East strategy, with share prices rising each time peace looked likely and falling whenever talks stalled. The latest developments show this pattern continues, with markets celebrating the peace announcement before Trump's explicit bomb threats created new uncertainty.
The stock market provided compelling evidence for Trump's Middle East strategy, with major indices reaching new peaks. As reported by The Times of India, the S&P 500 closed at a record 7,554.29 on June 15, up 1.65%, while the Dow added 468.77 points for its own record finish near 51,671. The Nasdaq jumped 3.07%, with Trump noting that "The stock market surged to record highs, picking up thousands of points over the last short period of time." Oil prices have fallen roughly 20% from their 2026 peak as a Hormuz reopening came into view, easing inflation pressure that Trump had blamed on the conflict. However, this situation has historical precedent - in April, Trump announced a ceasefire that later collapsed, with Brent crude peaking at $126 during hostilities before settling near $75 today.
Trump highlighted the stock market's resilience during the Iran strikes, arguing it held up better than he feared. According to The Times of India, he stated that "I thought the stock market would go down 25% or 30%. The stock market a week ago before we started this was higher than when we started, which tells you we have a very resilient economy." The president returned repeatedly to historical yardsticks, naming Herbert Hoover as the predecessor he never wanted to resemble, noting that "He raised taxes too fast and raised interest rates too fast, all at the same time. And it caused the Great Depression." This resilience has been tested repeatedly, with markets learning that pricing in peace before it holds is a trap, as demonstrated by the April ceasefire collapse.
Bitcoin (BTC) trades near $64,000 after slipping more than 2% in a day, pressured once the Federal Reserve cooled rate-cut bets, a turn that punished leveraged shorts. As reported by The Times of India, the token had popped above $67,000 on the ceasefire headlines before fading. Trump predicted that the gains would continue as energy prices fall and Hormuz traffic resumes, stating that "Trillions of dollars will be made by the world, and the stock market will ... continue to rise." However, Bitcoin has been here before - it rallied 3% on the deal but fell sharply each time Trump escalated earlier this year. At around $64,000 today, it is pricing a calmer macro environment that sits on the same fragile foundation as the rest of the markets. If the deal holds, the IEA expects global oil supply to recover from 102.4 to 110.3 million barrels per day in 2027, potentially creating a glut. But that outcome requires exactly what Trump has now made conditional - whether Tehran follows through on its commitments and whether Trump decides the deal is worth keeping.
