Bitcoin Nears $66K After Trump Announces Iran Deal

Bitcoin climbed toward $66,000 on Monday after President Trump posted on Truth Social that the United States had brokered a peace deal with Iran to reopen the Strait of Hormuz and lift a U.S. naval blockade. The announcement pushed bitcoin to $65,881 on Coinbase during morning trading, its highest level in 12 days.

Trump posted, “The deal with the Islamic Republic of Iran is now complete. Congratulations to all!” He added, “I hereby fully authorize the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade,” and wrote, “Ships of the World, start your engines. Let the oil flow!”

Officials expect Iran to sign the agreement on Friday under mediation by Pakistan. Iran’s deputy foreign minister confirmed the agreement on state television. The secretariat of Iran’s Supreme National Security Council stated the war on all fronts “will end immediately and permanently beginning tonight” and that the U.S. blockade “will be terminated immediately and in full.”

Traders moved back into risk assets after the announcement. Bitcoin’s intraday gain lifted broader crypto market capitalization about 2%, and several altcoins, including Hyperliquid (HYPE), Zcash (ZEC) and Near Protocol (NEAR), posted double-digit percentage gains.

Crude oil prices fell sharply. West Texas Intermediate dropped roughly 5% to just over $80 per barrel, while Brent crude fell about 4.6% to $83.30.

Andri Fauzan Adziima, research lead at Bitrue Research Institute, described the potential deal as removing a major geopolitical risk premium and triggering a risk-on move, while warning there could be last-minute signing issues.

Bitcoin has been trending higher since a brief dip below $60,000 on June 6, though it remains roughly 48% below its reported peak of over $126,000 in October. Market participants also face a Federal Reserve interest-rate announcement on Wednesday, the first meeting under new chair Kevin Warsh. The CME FedWatch tool shows a high probability that the federal funds rate will remain at 3.5% to 3.75%. Inflation has risen above 4% again.

Markets are pricing the prospect of reduced geopolitical risk alongside near-term uncertainty from the central-bank decision and the final details of the U.S.-Iran agreement.