Donald Trump and Benjamin Netanyahu connected by phone before the US president took to Truth Social to announce that both Israel and Iran are seeking an immediate ceasefire. The June 8 post marked a brief moment of optimism in a stretch of escalating military tensions that has rattled global markets, including crypto.
Bitcoin, which had been trading above $72,000 in April when an initial ceasefire between Israel and Iran took hold, has since dropped to approximately $63,000. That’s roughly a 12.5% decline, driven largely by the same geopolitical anxiety that sent oil prices climbing more than 3%.
What happened between Trump and Netanyahu
The two leaders have had multiple phone calls in early June, including what has been described as a tense exchange around June 1-2. The conversations centered on preserving the fragile ceasefire that had been established in April, with Trump pushing Netanyahu toward restraint in actions that could derail broader peace negotiations with Iran.
Netanyahu, for his part, has maintained that the US-Israel relationship remains strong despite what he characterized as tactical disagreements. The friction reportedly involves Israeli military operations related to Lebanon and Iran, actions that Washington views as counterproductive to the diplomatic track.
