Bitcoin Price Climbs Above $65,000 as Trump Announces Official Iran Deal

“I hereby fully authorize the free opening of the Strait of Hormuz,” added the American president.

The price of Bitcoin is on the move on Sunday evening, exceeding $65,000 for the first time in ten days.

The impressive price rise came after US President Donald Trump confirmed on his social media that the deal with Iran, as promised yesterday, “is now done.”

Recall that the POTUS noted yesterday that Iran and the United States had reached an agreement that would end the former’s attempts to develop or purchase nuclear weapons.

However, reports from the Middle Eastern country call this promise into question. Additionally, today’s Israeli attacks on Lebanon have intensified speculation that no deal will be announced on June 14.

Nonetheless, the POTUS released a triumphant statement on Truth Social a few minutes ago, clarifying that the two sides had reached an agreement.

“The agreement with the Islamic Republic of Iran is now concluded. Congratulations to all! I hereby fully authorize the cost-free opening of the Strait of Hormuz and, at the same time, I authorize the immediate lifting of the US naval blockade. Ships of the world, start your engines. Let the oil flow!”

Bitcoin price remained relatively calm after yesterday’s promise and today’s new attacks, trading between $63,500 and $64,800. It had fallen below $64,000 minutes before Trump’s announcement, but responded with an immediate price rise.

It surpassed $65,000 for the first time since June 4, showing a 2% increase in the past hour alone. Most altcoins followed suit, with ETH surpassing $1,700, SOL hitting $70, and HYPE climbing 4% in an hour.

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The total value of destroyed short positions jumped to $170 million in the last hour alone, according to CoinGlass data.

It should be noted that there is still no confirmation from Iran on the deal, and history has shown that the two sides have often contradicted each other on what reaches the mainstream media.