The Strait of Hormuz, the narrow waterway that carries roughly 20% of the world’s oil and LNG trade, has been effectively shut down since March 2, 2026. On Saturday, Donald Trump posted on Truth Social that it will reopen by Friday, toll-free, as part of a sweeping diplomatic deal with Iran.
Bitcoin responded the way Bitcoin does when geopolitical risk evaporates: it went up. BTC climbed past $65,000 following the announcement, peaking near $66,200, a gain of approximately 2%.
What the deal actually says
The agreement, announced June 14, reportedly includes Iran’s commitment to halt its nuclear weapons program and guarantee unrestricted commercial shipping through the Strait of Hormuz without tolls. The formal signing is expected to take place on June 19 in Switzerland.
Iran has acknowledged some of the terms, emphasizing the coordination required to resume shipping operations in the waterway. That’s a notable shift from the posture that led to the strait’s closure in early March, when military actions by the US and Israel against Iran escalated into a full blockade of tanker traffic.
