Bitcoin Tops $66,600 as U.S.-Iran Framework Spurs Rally

Bitcoin climbed past $66,600 on Monday morning, trading above that level at 9 a.m. Eastern. The token was up about 3.5% over recent sessions and more than 11% from early-June lows near $59,375. Ethereum reached $1,774, up roughly 6.5% over the same period. XRP and Solana gained about 8.7% and 7.4%, respectively. Total crypto market capitalization remained above $2.35 trillion.

President Donald Trump wrote on Truth Social that “The Deal with the Islamic Republic of Iran is now complete,” and said the pact calls for an immediate, toll-free reopening of the Strait of Hormuz and removal of the U.S. naval blockade on Iranian ports. U.S. and Iranian officials, with Pakistani mediators, confirmed a preliminary memorandum of understanding that extends a ceasefire for 60 days, opens the Strait immediately and defers detailed negotiations on Iran’s nuclear program to follow-on talks. A formal signing is targeted for June 19 in Switzerland. The text has not been released publicly. Iranian hardliners expressed opposition, and Israel said it will not be bound by proposed terms related to Lebanon. Former U.S. officials cautioned the framework buys time for lengthy nuclear negotiations rather than resolving core disputes.

Oil prices fell after the diplomatic developments. West Texas Intermediate traded in the $81 to $85 per barrel range, down about 3% to 5%, while Brent held around $84 to $87. Equity futures rose alongside risk assets: Nasdaq-100 futures pointed to gains of more than 2% at the open, S&P 500 futures were up roughly 1.3% and Dow Jones futures added about 1%. The S&P 500 earlier in June reached an all-time high of 7,620.90. SpaceX priced its initial public offering at $135 on June 11 and closed its first Nasdaq session near $161, lifting the company’s market capitalization above $2.1 trillion.

Gold traded near a $4,347 bid and $4,349 ask, up about 3% on the session and touching a daily high of $4,350.40. Silver, platinum and palladium posted multi-percent gains, supported by ongoing central bank purchases and continued uncertainty over monetary policy.

The Federal Open Market Committee meets June 16-17, with a rate decision expected on Wednesday, June 17. Markets are pricing in a hold at the current target range. The meeting will include a Summary of Economic Projections, an updated dot plot and a press conference with the new Fed chair, Kevin Warsh. Recent consumer price estimates showing inflation near 4.2% year-over-year remain a central constraint on policy easing, market participants said.

An institutional holder disclosed a purchase of 1,587 bitcoin for roughly $100 million at an average price of $63,024 per coin, raising its reserve to 846,842 BTC. Traders said they will monitor the formal signing text on June 19, reactions from Iran’s supreme leader and hardliners, Israel’s response regarding Lebanon, early implementation steps on reopening the Strait of Hormuz, oil-price follow-through and Wednesday’s FOMC statement and dot plot.