The US and Iran have reached a memorandum of understanding to wind down their three-and-a-half-month military conflict, with President Trump announcing the interim deal that includes a 60-day ceasefire extension and the reopening of the Strait of Hormuz to all shipping traffic.
Crypto markets responded immediately. Bitcoin surged past $63,000 on the news, while major altcoins including Ether, XRP, Solana, Cardano, and BNB posted gains ranging from 3% to 6%.
What the deal actually includes
The agreement, announced between June 11 and June 14, covers several critical provisions. The ceasefire that was already in place gets a 60-day extension, buying both sides time to hash out longer-term arrangements.
The Strait of Hormuz will reopen to all shipping, and the US naval blockade on Iranian ports is also set to be lifted.
