Bitcoin Crosses $64K as US-Iran Peace Deal Gets Signed, Sealed, and Hormuz-Delivered 🕊️

Bitcoin climbed above $64,000 over the weekend after Pakistani Prime Minister Shehbaz Sharif announced that the United States and Iran had finalized a peace agreement to be signed in Switzerland on Friday, June 19, with a $BTC high of $64,863.59 recorded at the time of writing. In a post on X, Sharif stated, "Following intensive talks, we are pleased to announce that the Peace Deal between the United States of America and the Islamic Republic of Iran has been finalized," adding that "Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon." U.S. President Donald Trump separately wrote on Truth Social, "The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL." Bitcoin earlier in the week traded at $63,173.68 on Thursday, June 11, according to TradingView data, after Trump suspended planned strikes against Iran and disclosed that the agreement had been approved by the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan and Egypt. Iran's Foreign Minister Abbas Araghchi corroborated Trump's position on Thursday, writing that the Islamabad MOU "has never been closer," although he urged the media to refrain from speculating about its content pending finalization.

Iran's official position on the signing timeline has shifted repeatedly. Iranian Foreign Ministry spokesperson Esmaeil Baghaei told state media on Saturday that the memorandum "will not be" signed on Sunday, but "in the coming days." A source cited by Fars News Agency called reports of a finalized Sunday deal "completely false," and the Islamic Revolutionary Guard Corps stated on Saturday that the framework was not yet finalized and linked Trump's insistence to his birthday on June 14, calling it a potential "publicity event." Two outstanding issues remained as of Saturday, according to an Iranian official cited by reporter Jeremy Scahill on X. The disagreement did not derail Bitcoin's price action, with $BTC trading at $64,491 on Saturday, up 1.5% over 24 hours, and reaching $65,700 by Monday, June 15, up 2% over 24 hours, according to TradingView. Spot Bitcoin ETFs recorded $85.9 million in net inflows on Friday, the largest daily inflow since May 14, per market data.

The draft memorandum, according to a U.S. official cited by Axios and Iranian media, runs for 60 days and can extend by mutual consent. It reopens the Strait of Hormuz, which has carried a naval blockade choking roughly 20% of the world's oil and liquefied natural gas supply, with no tolls. Iran agrees to clear naval mines it laid, the United States lifts its blockade on Iranian ports in phases, and temporary waivers allow Iran to resume oil sales during the window. Frozen Iranian funds remain locked until a final, verified deal is reached. Trump has described the principle as "relief for performance." The Pentagon has warned that fully clearing Hormuz mines could take up to six months, slowing any return to prewar shipping. WTI crude oil fell nearly 5% to just under $81 per barrel on Monday, its softest level in about two months, while Nasdaq 100 futures rose 1.5% and S&P 500 futures gained 0.9%.

Trump separately drew a contrast with the 2015 nuclear accord, writing on Truth Social, "Barack Hussein Obama's Deal with Iran, the JCPOA, was an easy, beautiful, smooth road to a Nuclear Weapon," adding, "My Agreement with Iran is the exact opposite, A WALL TO NO NUCLEAR WEAPON!" Araghchi has publicly disagreed on enrichment, stating, "Enrichment in Iran, however, will continue with or without a deal." The draft includes an Iranian pledge to never pursue nuclear weapons but defers enrichment limits and stockpile removal to the 60-day negotiations. Ballistic missiles and proxy networks receive little immediate attention in the text. Israel is not a direct party to the framework, though the cease-fire fully covers Hezbollah in Lebanon. CoinShares head of research James Butterfill told Cointelegraph on Wednesday that recent outflows from digital asset investment products were primarily driven by geopolitics, with uncertainty around the Iran conflict weighing on the outlook for interest rates. The June 19 signing ceremony will test whether the truce holds.