Iran War Ends as Bitcoin Hits $65,641, but Israel Isn’t Even Part of the Deal

Key Takeaways

• Trump declared the Iran war “now complete” on June 14, authorizing toll-free Hormuz reopening and lifting the US naval blockade as Bitcoin spiked to $65,641, and oil fell over 3%
• The deal is a memorandum of understanding to be signed on June 19 in Geneva with a 60-day ceasefire extension, but Iran’s nuclear program remains unresolved, and its governance remains unchanged
• Israel says it is “not a party” to the deal and calls it a “deep disappointment,” a day after Beirut strikes a diplomat said were an attempt to “sabotage” the agreement

The Iran war appeared to move toward a formal end over the weekend. This came after US President Donald Trump announced that Washington and Tehran had reached an agreement to reopen the Strait of Hormuz and remove the US naval blockade. Markets reacted quickly. Oil prices fell as supply concerns eased, while Bitcoin climbed to a high of $65,641. This is its strongest level in weeks. The agreement is expected to be formally signed in Geneva on June 19, but the framework leaves several major issues unresolved. This includes Iran’s nuclear program.

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Why Israel Says It Is “Not a Party” to the Deal It Spent 4 Months Fighting For

Trump announced the breakthrough on Truth Social. He announced that the deal with Iran was “now complete” and authorized the toll-free reopening of the Strait of Hormuz. The waterway has been at the center of the conflict since Iran restricted shipping traffic following US and Israeli strikes on Iranian military and nuclear facilities in late February. According to reports, about one-fifth of global petroleum liquids consumption moves through the Strait. This makes any disruption a major issue for energy markets.

Pakistani Prime Minister Shehbaz Sharif, who helped mediate negotiations, said both sides had agreed to end military operations and move toward a formal signing ceremony later this week. But the agreement is not a full peace treaty. Officials involved in the talks have described it as a memorandum of understanding that includes a 60-day ceasefire extension, the reopening of Hormuz and the removal of the US blockade. Iran’s government remains unchanged. Meanwhile, negotiations surrounding an Iran nuclear deal are still expected to continue.

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Bitcoin Rises as Oil Prices Pull Back

The immediate market response certainly stood out. Anyone checking the oil price today would have seen crude move lower after the announcement. WTI crude fell about 4.78% to $80.11 per barrel, while Brent crude dropped about 4.2% to $83.03.

At the same time, the Bitcoin price today moved above $65,000, reaching a high of $65,641. Bitcoin had traded closely with developments in the conflict throughout the year. It fell during periods of escalation and recovered when ceasefire talks gained momentum.

The political picture seems to be less clear. Israeli Prime Minister Benjamin Netanyahu said Israel is “not a party” to the agreement. It reportedly views the current framework as disappointing because it does not fully address concerns over Iran’s nuclear activities. His comments came shortly after Israeli strikes in Beirut drew criticism from officials involved in the negotiations. They warned it could complicate efforts to finalize the deal.

But it seems like traders are mostly focused on what changed during the weekend. The Strait of Hormuz is set to reopen, and oil supply risks have eased. The biggest geopolitical setback for markets since February seems to be easing. Whether the agreement holds beyond the initial ceasefire period remains the next thing investors will be watching.

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