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As the crude oil price plunged to around $80 per barrel, easing inflationary pressure could encourage a more dovish stance from the Federal Reserve. As the financial market is closely watching for positive developments ahead of the upcoming FOMC meeting on June 17, this has indeed sent the crypto and stock prices up.
US-Iran deal eases geopolitical tensions
Notably, the current bullish sentiment in the Bitcoin price and the overall crypto market is the direct response to the easing US-Iran tensions. Reportedly, the US and Iran have reached a peace deal, potentially ending the war. The agreement also includes Iran’s decision to reopen the Strait of Hormuz. In a Truth Social post, US President Donald Trump stated,
“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!”
Iranian officials revealed that they would end all military operations and the naval blockade immediately. The agreement is expected to be officially signed on Friday; until then both parties will engage in discussions.
Pakistani Prime Minister Shehbaz Sharif also confirmed this news. He noted that the US and Iran have decided to permanently end the ongoing military operations. His words read,
“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 Lebanon.”
BTC price rally is still facing skepticism
Despite the current optimism surrounding the Bitcoin price, some remain pessimistic. Experts like Ted state that it is too early to turn completely bullish. He believes that the current recovery in the BTC price is more driven by short-term liquidity.
People think the war is over and the deal is done.
As a result, many expect the market to rally aggressively.
However, what we saw yesterday looked more like a liquidity grab than a genuine breakout.
If $BTC can maintain strength above $65,000, a move toward the…
— Ted (@TedPillows) June 15, 2026
According to him, BTC is required to hold above the $65,000 mark firmly to confirm its rally to the $68k-$70k level. He added that the current recovery isn’t strong enough to guarantee a sustained rally until the $65k level is firmly secured.
Source:: Bitcoin Price Soars Above $66K as US-Iran Peace Talks Ignite Crypto Rebound