This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile. Always do your own research before making any investment decisions.
Bitcoin hovered near $64,000 on Saturday as former US President Donald Trump announced a peace deal with Iran, telling the world the Strait of Hormuz will “open to all” right after the expected Sunday signing. That development left a mark on markets: TradingView data showed Bitcoin settling at $64,750 on Bitstamp just as Newsheadlines dropped. And that plan means more than just a diplomatic handshake. The prospect of Hormuz reopening signaled a de-escalation, with global traders anticipating fresh flows of energy supply and a potential sharp drop in geopolitical risks. It’s no surprise Bitcoin, which traded at $63,949 as of June 13, stayed resilient into the weekly close.
In fact, they no longer want a Nuclear Weapon, nor will they have one, either through purchase, development, or any other form of procurement, according to Coingape.
Iran peace deal keeps Bitcoin rebound afloat
The Strait of Hormuz accounts for about 20% of all worldwide seaborne oil and liquefied natural gas shipments — that means around 10 million barrels pass through it daily, News reports.
Bitcoin price action and main metrics
The $65,000 to $67,000 window forms a major resistance zone, lining up with swing lows and prominent volume nodes. These technical markers matter because traders gauge trend direction and possible reversals right at these levels. Coingape found that as of June 13, Bitcoin ticked up 0.14% for the day — a sign of cautious optimism, but definitely not a full-on breakout. And as the week closed, traders were anxiously watching for confirmation above the $65,000 mark.
Geopolitical context: Strait of Hormuz and global markets
That resistance comes amid persistent US-Iran tensions following a six-month standoff. Trump insists the peace deal will force Iran to give up any nuclear weapon ambitions, but Iranian spokesperson Esmaeil Baghaei sounded less certain. He argued that negotiations could well drag past Sunday’s supposed deadline. Meanwhile, analysts point to Polymarket’s data: traders only put the chances of a June 14 signing at 39%, while $47.1 million in contracts are staked on the deal being resolved by July 31.
Trump’s announcement and immediate market impact
The former president’s pledge that Iran won’t pursue nuclear weapons — “through purchase, development, or any other form of procurement” — was intended to calm nerves globally. This decisive stance, whether delivered quickly or slowed by bureaucracy, knocked back perceived tail risks for world trade. Still, Trump warned of vague “alternative actions” if Iran doesn’t comply. That’s kept option premiums high across energy and commodity derivatives, signaling traders aren’t ready to let their guard down yet. The market’s attention quickly shifted to possible knock-on effects: Will inflation cool? Will the dollar climb? Will oil prices really drop? Bitcoin’s stability during these headlines continues to serve as a proxy for how much risk appetite truly exists out there.
BREAKING: Iran’s Fars News says the Strait of Hormuz will remain under Iran’s management contrary to President Trump’s announcement.
— The Kobeissi Letter (@KobeissiLetter) May 23, 2026
Just one hour ago, President Trump said a deal with Iran will be “announced shortly” which would reopen the Strait of Hormuz.
Oil, crypto, and the risk-on rebound
Coingape emphasized that both global energy prices and supply chain security drive risk appetite in equities and digital assets, especially when Hormuz is in play. Earlier shutdowns of Hormuz and related maritime incidents had already flared inflation fears, and wild price swings became the norm for oil futures in early 2026., the June 14 stakes are immense — Polymarket puts the likelihood of a near-term deal at just 39%. That’s prompted traders to hedge aggressively in both oil and crypto, bracing for setbacks and sudden swings. And with $47.1 million now locked on contracts betting the deal won’t resolve until July 31, speculation remains feverish. Bitcoin’s climb above $63,949, Coingape points out, shows that optimism remains, but it could quickly fade if peace talks hit a wall.
Trading outlook and resistance levels to watch
Cointelegraph explains the $65,000 to $67,000 range is the battle zone for bulls and bears—right at the former swing lows and highest recent volume. A clear break above these levels would clear the path for a run at new all-time highs, as traders remember the explosive momentum from earlier in 2026. But a failed breakout could encourage profit-taking and a quick retreat to support zones below. The coming weekly close — with Bitcoin at $63,949 into Saturday — will reveal if the optimistic mood can last or if Bitcoin will get stuck in a familiar sideways grind.
US policy, sanctions, and the outlook for crypto
Policies out of Washington remain a looming variable for Bitcoin’s long-term outlook. As Trump and Iranian diplomats approach a possible deal, experts caution that snapback sanctions or a sudden reversal could jolt not only oil but also digital assets. While traders celebrate each sign of progress, they’re keenly aware the landscape could shift in a day — especially if talks break down or new political obstacles emerge. The nexus of US policy, Middle East energy supply, flows will stay in sharp focus through the summer.
Event timeline: peace deal path and market checkpoints
All eyes are on Sunday, June 14 — the date Trump confidently says the deal will be inked and Hormuz will reopen for global shipping. But Iranian officials are cautioning negotiations might spill over into late June. The $47.1 million now on Polymarket contracts betting on a July 31 resolution (currently at 89%) shows how much traders expect complications and how reluctant they are to bet on a quick fix.
Trump says he will soon decide on Iran deal, demands reopening of Hormuz Strait https://t.co/ywCMJkBxfE https://t.co/ywCMJkBxfE
— Reuters (@Reuters) May 29, 2026
Broader implications for Bitcoin and risk appetite
Recent developments reinforce just how sensitive broader assets are to seismic political changes. With the summer of 2026 approaching, the market’s every twitch reflects updates from the Gulf. Cointelegraph highlights that every move toward $65,000 on Hormuz optimism showcases investor confidence in global stability. Yet any resurgence of tension — or a messy breakdown in talks — would probably slam optimism into reverse, with prices swinging sharply and volatility returning in full force. Over the next several months, traders and fund managers will watch news flow and order book moves at the $65,000 mark as their best indicator of where momentum stands. If Bitcoin can finally smash the $67,000 hurdle, multiple analysts argue the big spring drawdown will be firmly behind us.
For those looking deeper into political developments, see Trump Announces Iran Peace Deal to Be Signed⟦L1⟧. And for even more crypto context, check Bitcoin Reaches $63.2K Despite Inflation Concerns and Iran⟦L2⟧.
Disclaimer: The content on this page is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
Elena Petrova is a regulatory correspondent specializing in crypto law and policy with over 10 years of financial journalism experience. Formerly a finance reporter at Reuters, Elena covers SEC enforcement, MiCA implementation, and global stablecoin regulations. She holds a J.D. from Georgetown Law and is a member of the New York State Bar. Her regulatory analysis is frequently referenced by compliance officers and legal teams at major exchanges.
Conflicts of interest
I have no current legal practice or retainer relationships with any cryptocurrency company. Past employment relationships are listed publicly.
