Bitcoin’s price rose sharply in the last hour, climbing from $62,300 to a high of $63,700. Meanwhile, oil prices fell quickly, dropping from over $91 to below $87 in just a few minutes.
The situation appears to be de-escalating because President Trump announced less than an hour ago that the planned attacks on Iran are off. This came surprisingly soon after he had been warning that the US might target Iranian bridges and energy facilities.
“Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening. Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others.”
However, he noted that the naval blockade will remain in place until the permanent deal is reached. Answering a question from a reporter, the POTUS said that the agreement is “pretty much wrapped up.”
The cryptocurrency market quickly responded to the positive news, with Bitcoin’s price increasing by around $1,500. Ethereum is approaching $1,700 again, Binance Coin has recovered to over $600, and Solana has seen a 5% daily increase, reaching $67.
US oil prices have extended the losses as mentioned above, dropping below $87 within minutes.
BREAKING: US oil prices collapse below $87/barrel after President Trump cancels scheduled strikes on Iran.
— The Kobeissi Letter (@KobeissiLetter) June 11, 2026
Read More
- Netflix’s Little House On The Prairie Reboot: Release Date, Cast & Everything We Know
- Off Campus Season 1 Soundtrack Guide
- YouTuber arrested after viral AI bodycam videos spark real police complaints
- Silver Rate Forecast
- Gold Rate Forecast
- EUR/ZAR
- Prime Video’s New R-Rated Spy Thriller Is Officially No.1 On Streaming Despite Poor Reviews
- Bulgakov’s Take: Koreans Bet the Farm on Chips, Crypto, and Chaos
- Lord Of The Flies Review: Near-Perfect Adaptation Is A Reminder Of Classic Novel’s Haunting Power
- Brent Oil Forecast
2026-06-11 21:17