Bitcoin Price Jumps Above $65K as Trump Announces Official Deal With Iran

“I hereby fully authorize the toll-free opening of the Strait of Hormuz,” added the POTUS.

Bitcoin’s price is on the move on Sunday evening, jumping past $65,000 for the first time in approximately ten days.

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

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

However, reports from the Middle Eastern country put that promise in doubt. Moreover, today’s attacks from Israel against Lebanon intensified the speculation that there will be no deal announced on June 14.

Nevertheless, the POTUS published a triumphant statement on Truth Social minutes ago, clarifying that the two sides have reached an agreement.

“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorize the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!”

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

It jumped past $65,000 for the first time since June 4, showing a 2% increase in the past hour alone. Most altcoins followed suit, with ETH soaring past $1,700, SOL tapping $70, and HYPE rocketing by 4% in an hour.

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The total value of wrecked short positions has jumped to $170 million in just the last hour, according to data from CoinGlass.

It’s worth noting that there’s still no confirmation from Iran on the deal, and history has shown that the two sides have often contradicted each other on what reaches mainstream media.