The US and Iran have agreed, at least on paper, to stop shooting at each other. President Trump announced a tentative memorandum of understanding on June 15 aimed at ending the conflict that erupted in late February 2026, and crypto markets responded by rallying hard.
Bitcoin climbed above $65,500, hitting a two-week high as traders priced in the possibility that the conflict might wind down. Brent crude fell to three-month lows around $83 per barrel.
What the deal actually says
The preliminary agreement covers the immediate halt of military operations, the reopening of the Strait of Hormuz, and the lifting of the US naval blockade. The MoU carves out a 60-day negotiation window specifically for addressing Iran’s nuclear program.
A formal signing ceremony is referenced for around June 19 in Geneva. Iranian officials have already described some of the reporting around the deal as speculative, noting that details aren’t fully finalized. The question of Israeli compliance adds another layer of uncertainty, remaining unaddressed in any public framework.
