G7 leaders arrived in Évian-les-Bains, France expecting a confrontation with Donald Trump over Iran and Ukraine. They left the first day of talks cautiously optimistic, and so did crypto markets.
Bitcoin surged past $65,000 on June 15 as traders digested the news that Trump had announced a preliminary agreement to de-escalate the US-Iran conflict, a standoff that had stretched across 15 weeks. The move coincided with sharp declines in oil prices, a classic signal that risk appetite was returning across global markets.
What happened at the G7
The summit, running from June 15 to 17, was supposed to be contentious. Two senior EU diplomats told reporters they had braced for a blowup with the White House over both Iran policy and the ongoing Russia-Ukraine war.
Instead, Trump showed up with something resembling good news. The preliminary Iran deal, announced on the summit’s opening day, is expected to be formalized in a final memorandum around June 20 in Switzerland.
