US-Iran Accord Reopens Strait of Hormuz, Pulling Risk Premium Out of Oil and Lifting Bitcoin

President Trump declared the agreement with Iran "now complete", authorizing the reopening of the Strait of Hormuz and the lifting of the United States naval blockade, with officials set to sign formally in Switzerland on June 19. The strait is the route for a large share of seaborne crude, and its closure had carried a war premium in energy prices for weeks.

The removal of that premium moved markets in two directions at once. Oil fell sharply, with Brent crude declining more than 4 percent toward $83 a barrel, while risk assets advanced. Bitcoin reached a two-week high above $65,500 as the geopolitical discount on risk narrowed.

The speed of the repricing forced out traders positioned for further conflict. Roughly $150 million in short positions were liquidated across the crypto market after the announcement, a mechanical move that amplifies a price advance as exchanges close losing bets. CoinDesk cautioned that Bitcoin is not fully clear of risk, noting that Trump warned of further strikes should the terms fail.

The diplomatic track is widening. The United Kingdom, France, Germany, and Italy signaled readiness to lift sanctions on Iran following the deal, a step that would reshape Iran's access to global finance and, potentially, its use of digital assets to move value around restrictions.