Diplomats Hit Refresh, $BTC Holds the Door Open Above $64K

Bitcoin traded above $64,000 on Saturday after a cascade of statements from Washington, Tehran and Islamabad signaled that a U.S.-Iran peace agreement is in its final hours, with the signing now expected in Switzerland on June 19. The largest cryptocurrency by market capitalization reached an intraday high above $64,200, up more than 1% over 24 hours and more than 8% from its June low of just above $59,000, putting it on track to break a four-week losing streak if gains hold through the weekly close.

The rally built on comments from U.S. President Donald Trump, who posted on Truth Social that he had "cancelled the scheduled strikes and bombings against Iran this evening" after progress in talks with Tehran, adding that the decision was "based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved." Trump said "discussions and final points have been, in both concept and great detail, approved by all parties involved," including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan and Egypt, and added that the "Time and place of the signing" would be announced shortly. He also declared that "The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL," and contrasted his deal with the JCPOA, writing: "Barack Hussein Obama's Deal with Iran, the JCPOA, was an easy, beautiful, smooth road to a Nuclear Weapon. My Agreement with Iran is the exact opposite, A WALL TO NO NUCLEAR WEAPONS!"

Iranian Foreign Minister Abbas Araghchi corroborated that position on X, stating that the Islamabad MOU "has never been closer" while urging media to refrain from speculating about its content, adding, "In line with our responsible and transparent approach, all details will be shared with the public in due course." Pakistan's Prime Minister Shehbaz Sharif added a timeline, posting: "We are closer to a peace deal than ever before. With finalisation likely within the next 24 hours, Pakistan is preparing for the electronic signing of the agreement immediately afterwards, followed by technical-level talks next week." He later confirmed the deal would be signed in Switzerland on June 19 and said, "Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon."

Bitcoin's path higher was not linear. On Thursday, June 11, $BTC surged 2.28% to $63,173.68 after Trump's initial announcement, having earlier dipped to around $62,300 as investors reacted to U.S. PPI data that came in hotter than expected. The price then pushed toward $63,949.08 on Saturday, up 0.14% on the day, before breaking above $64,000 and reaching $64,863.59, a 0.94% gain over 24 hours, intraday data from TradingView showed.

The move was also supported by U.S. spot bitcoin ETFs, which recorded $85.9 million in net inflows on Friday — the largest daily inflow since May 14. Standard Chartered noted that ETF holders have anecdotally been liquidating positions to free up cash for the SpaceX IPO, which launched on Friday, suggesting that selling pressure tied to that event may now ease.