President Donald Trump touched down at the G7 summit in Évian-les-Bains, France, on June 15 with something most world leaders rarely bring to these gatherings: genuine leverage. Hours earlier, he announced a preliminary agreement with Iran aimed at ending a 15-week military conflict that had rattled energy markets, disrupted global shipping, and sent risk assets into a tailspin.
The crypto market’s reaction was immediate. Bitcoin blew past $65,000 and touched nearly $66,000 in intraday trading, as traders interpreted the deal as a meaningful de-escalation of one of the most destabilizing geopolitical events of 2026.
What’s actually in the deal
The agreement, described as a memorandum of understanding rather than a formal treaty, centers on the US blockade of the Strait of Hormuz. That narrow waterway carries roughly 20% of the world’s crude oil supply, and Washington had choked it off during a conflict that erupted in late February 2026.
Under the preliminary terms, the Strait is now “partially opened” with toll-free passage restored. The deal also includes a 60-day ceasefire and a commitment to begin nuclear negotiations during that window.
