Bitcoin rebounded above $65,000 on Wednesday after President Donald Trump announced a U.S.-Iran peace agreement, lifting the blockade of the Strait of Hormuz and calming energy markets. The deal, which follows weeks of back-channel talks, is expected to be formally signed on June 19.
Peace deal lifts oil jitters
The blockade of the Strait of Hormuz had been a major source of tension in energy markets, with oil prices spiking and risk assets including crypto taking a hit. Trump's announcement reversed that quickly — Bitcoin climbed from the low $62,000s to above $65,000 within hours. The move suggests traders see the truce as a de-escalation that reduces global economic uncertainty.
The signing ceremony is set for June 19. Markets will be watching for any last-minute hiccups, but the broad contours of the agreement are already public. If it holds, the Strait of Hormuz blockade will be fully lifted, restoring normal oil flows through the critical chokepoint.
Prediction markets react
On Polymarket, odds for Mbappe hit 15.5% — a notable shift in the prediction market. It's not immediately clear which event the odds refer to, but the movement coincided with the broader geopolitical news cycle.
