Bitcoin's price approaches $66,000 following Trump's announcement of a deal with Iran, impacting oil prices and the broader crypto market.
Bitcoin's price approached $66,000 on June 15, largely influenced by remarks from former U.S. President Donald Trump regarding a completed deal with Iran. This development also included the reopening of the Strait of Hormuz and the lifting of the U.S. naval blockade.
On the Binance exchange, Bitcoin briefly peaked at $65,938, marking its highest point since early June.
Trump stated, "The deal with the Islamic Republic of Iran is complete."
In his communications, Trump also mentioned the authorization to reopen the Strait of Hormuz, although specifics of the agreement remain unclear. The Associated Press reported that the deal's implementation is contingent on Iran's signature, with talks mediated by Pakistan set to take place in Switzerland.
Iran's Deputy Foreign Minister Kazem Garibabadi confirmed the accord on state television, with the Iranian Supreme National Security Council declaring an end to hostilities and the immediate lifting of the blockade starting June 15, 2026.
This geopolitical development had an impact on oil prices, which dropped by approximately 5% following the announcement.
The cryptocurrency market capitalization saw a boost of over 2% within a day, reaching $2.24 trillion. Among notable altcoins, Hyperliquid's HYPE token surged by 8.4%.
Meanwhile, Galaxy Research indicated that Bitcoin’s market cycle may not have reached its lowest point yet, with potential declines projected to the $40,000 to $46,000 range.
