The United States and Iran have officially signed an interim memorandum of understanding to end their 100-day military conflict. The agreement lifts the U.S. naval blockade on Iranian ports and initiates the reopening of the Strait of Hormuz, with a formal signing ceremony scheduled for Friday, June 19, 2026, in Switzerland.
Following the announcement, Bitcoin surged over 2 percent within 24 hours to reach $65,700. This marks the highest valuation for the cryptocurrency since a sharp market plunge in early June.
Energy Markets Drive Crypto Recovery
The geopolitical de-escalation immediately impacted global energy markets. WTI crude oil prices plunged nearly 5 percent to drop just under $81 per barrel. Traditional equity markets mirrored the recovery, with Nasdaq 100 futures rising 1.5 percent and S&P 500 futures up 0.9 percent.
The crisis began in late February 2026 following U.S. and Israeli airstrikes, prompting Iran to close the Strait of Hormuz to commercial shipping. Handling roughly 20 percent of global seaborne oil trade and liquefied natural gas, the closure created the largest disruption to the world energy supply since the 1970s.
The resulting energy shock fueled global inflation and pressured risk assets, according to broad market analysis detailing the bond sell-off. Standard Chartered analyst Geoffrey Kendrick noted that falling oil prices ease these macroeconomic pressures, acting as a primary catalyst for the crypto recovery.
Timeline for Sanctions Relief
The interim deal triggers a 30-day mine-clearing operation to secure commercial shipping lanes. It also establishes a 60-day window for further negotiations, according to a Binance market report confirming the timeframe.
These subsequent talks will focus on lifting financial sanctions and addressing the nuclear program framework. In response to the market movement, Coinbase CEO Brian Armstrong posted on X that his bullish outlook remains unchanged, confirming his long-term long position on Bitcoin.