President Donald Trump announced on June 11 that he had called off planned military strikes against Iran, claiming that high-level negotiations had produced a draft agreement that could end the conflict. The proposed deal reportedly includes provisions to reopen the Strait of Hormuz to international shipping and impose new constraints on Iran’s nuclear program.
Trump indicated a signing could happen in Europe as soon as this weekend. Bitcoin responded by pushing toward $74,000.
The deal, and the skepticism around it
Iranian sources have not confirmed approval of the draft text. Trump has made similar claims of imminent progress since March 2026. Each time, Iranian state media has met the assertions with varying degrees of skepticism.
Why crypto cares about geopolitics in the Strait of Hormuz
