The US and Iran have reached a preliminary framework agreement to halt hostilities that have stretched beyond 100 days. Bitcoin climbed roughly 2% to highs above $65,500 following the announcement, hitting a two-week peak as traders priced in reduced geopolitical tension and declining oil prices.
What the deal actually includes
The framework, announced around June 14-15, contains three immediate provisions: an immediate ceasefire, the reopening of the Strait of Hormuz to commercial shipping, and the lifting of the US naval blockade against Iran.
Roughly a fifth of the world’s oil passes through the Strait of Hormuz.
Beyond the immediate measures, the agreement establishes a 60-day negotiation window focused on Iran’s nuclear program and potential sanctions relief. A formal signing ceremony is scheduled for June 19 in Switzerland, with Pakistan and Qatar serving as mediators.
