Bitcoin Rebounds Toward $64,000 After Trump Says Israel and Iran Seek "Immediate Ceasefire

Bitcoin climbed back toward $64,000 on Monday, June 8, after U.S. President Donald Trump said Israel and Iran were moving toward an "immediate CEASEFIRE" following days of escalation between the two countries. The price of $BTC reached as high as $63,715, up 1.78% on the day, reversing earlier losses that had pushed the token below $64,000 amid the renewed Middle East conflict. The move coincided with a sharp drop in oil prices as traders reacted to the prospect of a de-escalation.

In a post on Truth Social, Trump wrote, "Both sides, Israel and Iran, are looking to do an immediate CEASEFIRE!" He added that final peace talks were also underway but were still "subject to ignorance or stupidity getting in its way." Trump also stated that "The Blockade will remain in place, and in full force and effect, until a 'Final Deal' is reached," indicating that diplomatic discussions were already advancing.

The market reaction followed reports that Iran's joint military command had halted offensive action after recent clashes with Israel. Iran had launched retaliatory strikes after Israel attacked Hezbollah-related facilities in Beirut, an exchange that had driven the earlier pullback in $BTC and weighed on broader risk assets. Bitcoin's recovery came as ceasefire signals reduced the immediate geopolitical risk premium that had built up across crypto and traditional markets.