Bitcoin Tops $64,349 After Trump Announces Tentative Iran Deal

Bitcoin briefly climbed to $64,349 on June 12 after U.S. President Donald Trump announced a tentative deal with Iran, then retreated when Iranian state media and officials denied the agreement.

After Trump’s announcement on Thursday afternoon, bitcoin broke above the $63,000 resistance level and traded mainly between $63,200 and $63,800 until a sell-off pushed the price down to $62,805 after 2 a.m. EST. About three hours later bitcoin recovered to roughly $63,800, slid back above $63,000 in a subsequent pullback, and completed a third rally in 24 hours to reach $64,349 before trading just under $63,900 at 12:45 p.m. EST, a daily rise of about 2%.

Over the seven-day period bitcoin’s price rose about 4.5% and its market capitalization reached about $1.28 trillion. Volatile moves on the day produced roughly $68 million in liquidations of leveraged short positions and about $20 million in liquidated long positions, for about $88 million wiped out on derivatives markets.

Iranian state media cited senior government sources denying any pact, and later reports confirmed Tehran’s rejection of the announcement. President Trump issued a public response after the denials. The conflicting reports coincided with the sharp intraday reversals in risk assets.

Benchmark Brent crude fell from about $97 per barrel to $87 over the week, while U.S. crude (WTI) dropped from roughly $94 to $84. Major equity indexes ended the week with gains.

Spot bitcoin exchange-traded funds recorded outflows of about $405 million in the prior week and a cumulative $5.49 billion of net redemptions over the past month. A Bitunix analyst wrote, “Even as geopolitical risks temporarily ease, institutional capital has yet to demonstrate a meaningful return to the sector. As a result, the market remains caught between liquidity recovery and a persistently high interest-rate environment. If gold competes with the U.S. dollar, then Bitcoin is ultimately competing with global liquidity.”

Market participants cited the day’s sell-offs, ETF outflows and the interest-rate backdrop as immediate factors tied to intraday price moves, while ongoing headlines continued to produce rapid swings in risk assets.