TLDR
- Bitcoin traded near $63,452 after Trump said a U.S.-Iran settlement could be near.
- Trump said a deal could reopen the Strait of Hormuz in the coming days.
- Iran said reports of a final agreement remained speculative.
- Bitcoin’s rebound was capped by U.S. spot ETF outflows and mixed PPI data.
- ETH exchange supply fell to about 14.5M, easing near-term sell pressure.
Bitcoin is trading near $63,452 on Thursday as investors reacted to President Donald Trump’s claim that the United States and Iran could soon finalize a settlement that may end the conflict and reopen the Strait of Hormuz.
The cryptocurrency recovered toward the $63,500 area after earlier pressure tied to Middle East tensions, exchange-traded fund outflows, and mixed U.S. Producer Price Index data. Bitcoin’s rebound remained limited as traders waited for confirmation from Tehran, where officials said no final decision had been made.
Trump said in the Oval Office that a “great settlement” could resolve the war and reopen the Strait of Hormuz, a key global energy route. He suggested that Iran’s Supreme Leader supported the framework and that Vice President JD Vance could attend a signing ceremony in Europe if talks move forward.
Donald Trump Says Iran Settlement Is Near
Trump’s comments came after a period of sharp escalation between Washington and Tehran. Earlier Thursday, he said the United States could target Kharg Island, which handles roughly 90% of Iran’s crude exports. Iran also said it had targeted U.S. bases in the region for a second consecutive night after earlier U.S. strikes across Iran.
BREAKING: President Trump says that Iran’s Supreme Leader has approved a deal between the US and Iran and a signing is “coming soon.”
Details of the deal per President Trump:
1. US Naval blockade is lifted once the deal is signed
2. Memorandum of Understanding has been…
— The Kobeissi Letter (@KobeissiLetter) June 11, 2026
The president later said scheduled strikes against Iran had been canceled, adding that negotiations had made progress. His statement helped ease some short-term geopolitical pressure across risk assets, including Bitcoin and major altcoins.
Iran’s response was more cautious. The country’s foreign ministry said reports of an agreement remained speculative and that Tehran had not reached a final decision. A spokesperson said a large portion of the text had been finalized but added that U.S. positions had shifted during the negotiation process.
Israeli Prime Minister Benjamin Netanyahu also spoke with Trump after the president said Israel supported a potential agreement. According to a readout from Netanyahu’s office, Israel’s position remains focused on removing Iran’s enriched uranium, dismantling nuclear infrastructure, limiting missile production, and halting support for regional proxies.
Bitcoin Rebounds but ETF Outflows Cap Momentum
Bitcoin’s move back toward $63,500 reflected a partial relief bounce rather than a confirmed breakout. The asset was trading at $63,452 as investors monitored whether reduced geopolitical tension would support broader risk appetite.
The recovery followed a period of weakness linked to U.S. spot Bitcoin ETF outflows. Continued net redemptions have reduced near-term demand and kept Bitcoin sensitive to macroeconomic and geopolitical headlines.
Mixed U.S. Producer Price Index figures also added short-term volatility. Inflation data has remained important for traders because it affects expectations for Federal Reserve policy, bond yields, and liquidity conditions across risk assets.
Bitcoin’s recent price action shows that the market remains caught between geopolitical relief and liquidity constraints. A clearer agreement between the United States and Iran could support additional risk appetite, while continued ETF outflows or stronger inflation signals may limit upward movement.
Ethereum Supply and Institutional Activity Add Crypto Focus
Ethereum also drew attention as broader crypto markets stabilized. ETH had slipped below $1,620 before rebounding as late-session buying improved and traders reacted to easing Middle East tensions.
The total supply of ETH held on active exchanges has dropped to about 14.5 million, reducing immediately available liquidity and easing near-term selling pressure. Lower exchange supply is often monitored by traders because it can indicate fewer tokens are available for quick sale.
Institutional activity has also remained in focus. Investment entities such as BitMine have expanded ETH exposure, absorbing more than $206 million in ETH and helping establish a firmer support area near the $1,600 level.
Kelvin Munene
Kelvin Munene is a crypto and finance journalist with over 5 years of experience in market analysis and expert commentary. He holds a Bachelor’s degree in Journalism and Actuarial Science from Mount Kenya University and is known for meticulous research in cryptocurrency, blockchain, and financial markets. His work has been featured in top publications including Coingape, Cryptobasic, MetaNews, Coinedition, and Analytics Insight. Kelvin specializes in uncovering emerging crypto trends and delivering data-driven analyses to help readers make informed decisions. Outside of work, he enjoys chess, traveling, and exploring new adventures.
