The US military is preparing to lift its naval blockade of the Strait of Hormuz as early as Friday, contingent on Iran signing an agreement that would cap months of escalating hostilities between the two nations.
Bitcoin has already responded. The announcement on June 14 by President Donald Trump pushed prices higher as traders priced in reduced geopolitical risk.
How we got here
The current standoff traces back to February 28, 2026, when US and Israeli forces launched strikes on Iran. What followed was a diplomatic scramble that failed to produce results, with talks in Islamabad collapsing without an agreement.
On April 13, the US imposed a naval blockade on Iranian ports. The Strait of Hormuz is roughly 21 miles wide at its narrowest point. Since the blockade began, US forces have redirected over 100 vessels.
