The US and Iran have reached a preliminary agreement that could be formally signed as early as today, marking one of the most significant geopolitical de-escalations in recent memory. Bitcoin has already priced in the optimism, rallying to approximately $67,000, a two-week high.
The memorandum of understanding covers a lot of ground: a 60-day ceasefire extension, the reopening of the Strait of Hormuz, and an end to the US naval blockade on Iranian ports. It also kicks off a negotiation window focused on Iran’s nuclear program and potential sanctions relief.
What the deal actually includes
The agreement was reportedly reached around June 15, with key figures including US President Donald Trump, Vice President JD Vance, and Iranian Parliament Speaker Mohammad Bagher Ghalibaf all involved. Pakistan Prime Minister Shehbaz Sharif served as a mediator alongside Qatar.
A formal signing ceremony has been scheduled for June 19 at the Bürgenstock resort in Switzerland. The preliminary version has effectively already been signed virtually by the principal leaders, making today’s potential formalization more of a ceremonial milestone than a surprise.
