Breaking: Bitcoin Breaks $63K As Trump Confirms US-Iran Peace Deal
Highlights
- Bitcoin reclaimed the $63,000 level after Trump announced that U.S. and Iran will soon sign a peace deal.
- The venue and time for signing the agreement will be revealed shortly, Trump added.
- Before the relief, Trump moved forward to take control of the Kharg Island.
Bitcoin rallied above $63,000 on Thursday after U.S. President Donald Trump released the final terms of a peace agreement between the United States and Iran. His comments alleviate fears of an escalation of the conflict in the Middle East.
Bitcoin Soars As Trump Declares US, Iran Will Sign Peace Deal
On Thursday, June 11, Bitcoin surged by 2.28% to $63,173.68 at the time of writing after Trump’s latest Truth Social post. Earlier, BTC price had dropped around $62,300 as investors responded to the volatility in the markets after U.S. PPI data came in hotter than expected.
In a post on Truth Social, Trump announced he had “cancelled the scheduled strikes and bombings against Iran this evening” after progress in talks with Tehran.
Trump wrote that the decision to suspend military action is “based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved.”
He also said that “discussions and final points have been, in both concept and great detail, approved by all parties involved.” These include the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan and Egypt.
Trump also added that the “Time and place of the signing” would be announced shortly. However, he added that “The Naval Blockade will remain in full force and effect until this Transaction is finalized.”
The news lifted risk assets, allowing Bitcoin to bounce back from a setback to reclaim the $63,000 mark. The BTC price chart showed continued green candles after Trump’s latest announcement.
Overview of Recent Strikes In Middle East
Earlier this week, Trump went as far as to say Iran will have to “pay the price” after the latter shot down an American Army helicopter. Thereafter U.S. military launched retaliatory strikes on Iran. Moreover, before announcing the peace deal, Trump even threatened to take over the Kharg Island.
At the time, Bitcoin suffered with volatility due to geopolitical tensions. In the beginning of the week, strikes between Israel and Iran also weighed on the BTC price and crypto market.
Instant Currency Exchange at BestChange with Ease
- Compare Rates Across 1000+ Exchanges
- Access 250+ Cryptocurrencies & Pairs
- Save Time with Real-Time Price Tracking
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
