President Donald Trump took to Truth Social on June 11 to announce he was canceling planned US airstrikes against Iran, a diplomatic pivot that caught Israeli Prime Minister Benjamin Netanyahu completely off guard. Bitcoin responded before Netanyahu could even pick up the phone, surging roughly 5% to around $64K as traders priced in a sudden drop in geopolitical risk.
The announcement came after weeks of escalating tensions between Washington and Tehran, including a series of limited strikes exchanged between both sides. Trump’s post didn’t just signal a ceasefire. It hinted at something much bigger: an imminent comprehensive agreement with Iran.
A very public surprise for a very close ally
Netanyahu, who had been party to the broader negotiations, was reportedly blindsided by the timing and substance of Trump’s post. Israeli officials were left in the awkward position of waiting for confirmations from Tehran.
The negotiations themselves involved a sprawling coalition. The US, Israel, Saudi Arabia, the UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, and Egypt were all reportedly part of the discussions.
