Bitcoin rallied above the $65,000 level after the Pakistan PM Shehbaz Sharif confirmed the US-Iran peace deal. He even disclosed the date and venue for the signing.
Bitcoin Climbs As Pakistan PM Announces US-Iran Peace Deal Signing Date
The BTC price earlier dropped owing to uncertainty over the Middle East conflict and continued negotiations between the United States and Iran. At the time, Bitcoin had dipped below $63,400 in response to rising tensions between Israel, Hezbollah and Iran.
Sentiments later turned up after Pakistan Prime Minister Shehbaz Sharif announced that the United States and Iran reached a peace pact. It is expected to be signed in Switzerland on June 19. This news pushed Bitcoin to $65,546.29, up by 1.77% in the last 24 hours.
According to Sharif, “Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.”
Earlier in the day, markets also reacted to comments by the U.S. President Donald Trump. He stated the Middle East was “very close” to a peace deal. Moreover, he called on all parties to avoid further escalation after a strike on Beirut was expected to make negotiations more complex.
Following intensive talks, we are pleased to announce that the Peace Deal between the United States of America and Islamic Republic of Iran has been REACHED. Both sides have declared the immediate and permanent termination of military operations on all fronts, including in…
— Shehbaz Sharif (@CMShehbaz) June 14, 2026
“We are very close to a Deal that will bring peace to the region, including to Lebanon, and all sides should stand down,” Trump wrote on Truth Social. He also demanded that attacks in the country be stopped and that there be no moves that would interfere with diplomatic activities.
Deal Hints Reopening of The Strait of Hormuz
The diplomatic moves came after reports that a draft memorandum between Tehran and Washington. It mentions that the Strait of Hormuz, which is the key waterway for global oil transport, could be reopened soon.
The US-Iran deal would also reduce U.S. naval presence around Iranian ports, per Reuters report. The draft plan also features a negotiating window of 60 days to discuss Iran’s nuclear program and potential sanctions relief, according to the report.
Thus, financial and crypto markets have been sensitive to developments in the region as the Strait of Hormuz accounts for about 1 in 5 of global oil supplies. Any interruption to the corridor can impact energy prices and investor confidence as a whole. At the time, Bitcoin was holding above $64,000 before tumbling below $63,500.
For those looking for DeFi-backed crypto borrowing, visit our page on DeFi Lending Platforms.