Bitcoin Breaks $63K As Trump Confirms US-Iran Peace Deal

Bitcoin rallied above $63,000 on Thursday after U.S. President Donald Trump released the final terms of a peace agreement between the United States and Iran. His comments alleviate fears of an escalation of the conflict in the Middle East.

Bitcoin Soars As Trump Declares US, Iran Will Sign Peace Deal

On Thursday, June 11, Bitcoin surged by 2.28% to $63,173.68 at the time of writing after Trump’s latest Truth Social post. Earlier, BTC had dropped around $62,300 as investors responded to the volatility in the markets after U.S. PPI data came in hotter than expected.

In a post on Truth Social, Trump announced he had “cancelled the scheduled strikes and bombings against Iran this evening” after progress in talks with Tehran.

Trump wrote that the decision to suspend military action is “based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved.”

He also said that “discussions and final points have been, in both concept and great detail, approved by all parties involved.” These include the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan and Egypt.

Trump also added that the “Time and place of the signing” would be announced shortly. However, he added that “The Naval Blockade will remain in full force and effect until this Transaction is finalized.”

The news lifted risk assets, allowing Bitcoin to bounce back from a setback to reclaim the $63,000 mark.