Bitcoin has climbed above $67,000 after U.S. President Donald Trump confirmed that the U.S. and Iran have signed a peace agreement, helping push the total crypto market capitalization to $2.37 trillion.
Summary
- Bitcoin climbed above $67,000 after Trump confirmed the U.S. and Iran had signed a peace agreement.
- The crypto market cap rose 4.7% to $2.37 trillion, while Ethereum gained over 10% and several altcoins posted double-digit advances.
- Oil fell more than 5% below $80 as the reopening of the Strait of Hormuz appeared closer, lifting stocks, gold, and silver alongside crypto.
According to statements made by Trump ahead of a bilateral meeting with French President Emmanuel Macron, the peace deal has already been signed despite a formal signing ceremony still scheduled for Friday in Geneva.
Trump added that Iran will reopen the Strait of Hormuz by Friday and that vessels passing through the waterway will not be charged tolls for 60 days.
The latest comments followed an earlier Truth Social post highlighted by crypto.news, in which Trump claimed ships were already moving out of the Strait of Hormuz. Cryptocurrency prices extended their advance after the president later confirmed that the agreement had been signed.
Bitcoin (BTC) rose more than 5% on Monday to an intraday high of $67,217 before settling near $66,560 at press time.
Ethereum (ETH) outperformed Bitcoin, climbing more than 10% to $1,846. Other major cryptocurrencies, including XRP, Solana, and Hyperliquid, posted double-digit gains, while Zcash, Stellar, and Worldcoin led the market with advances of 23%, 21%, and 18%, respectively. These gains have helped push the total crypto market up by 4.7% over the past 24 hours to $2.37 trillion.
Pakistan Prime Minister Shehbaz Sharif had previously stated that a public signing ceremony for the U.S.-Iran peace agreement would take place on Friday. However, Trump’s latest comments suggest the agreement has already been finalized. The president also said he was unsure whether he would attend the Geneva event.
Officials say both sides have signed the agreement
Additional details emerged after a senior U.S. official confirmed that both countries had already signed the agreement. According to the official, Trump and Vice President J.D. Vance signed on behalf of the United States, while Iran’s parliamentary speaker signed for Iran.
The same official stated that the full agreement could be released within the next 48 hours. According to the official, the deal provides for the immediate opening of the Strait of Hormuz and includes the removal of the U.S. blockade on Iranian ports.
While the official noted that mines in the waterway would delay a full reopening, they said shipping traffic through Hormuz is expected to increase over the next one to two weeks.
Falling oil prices add support to risk assets
Commodity markets reacted sharply to the prospect of normal shipping activity returning to the Persian Gulf. Notably, crude oil fell more than 5% to below $80 per barrel, touching its lowest level in roughly two months after news of the agreement emerged.
Trump also stated that oil shipments from the Persian Gulf could resume soon, reinforcing expectations that supply disruptions in the region may ease.
The prospect of renewed shipping activity through the Strait of Hormuz and lower energy costs coincided with gains across cryptocurrencies, U.S. equities, and precious metals.
U.S. equities moved higher, with the Nasdaq Composite gaining roughly 3%, the S&P 500 rising 1.7%, the Russell 2000 adding 1.5%, and the Dow Jones Industrial Average advancing about 1%.
Precious metals also joined the advance, with gold climbing around 0.8% and silver gaining roughly 1.2% during the session.
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