On June 12 (Friday), Bitcoin rebounded to above $63,700. On Thursday, US President Trump first posted on Truth Social threatening a “vigorous strike on Iran” that night; hours later, he announced the airstrike was canceled and said the US-Iran conflict was over, with Iran agreeing to give up nuclear weapons. Trump said he believes Iran’s supreme leader, Mojtaba Khamenei, has approved a “very strong understanding memorandum,” with the deal to be signed in Europe as soon as this weekend.
Key Terms of Trump’s US-Iran Conflict Deal
According to reports by Reuters and Fox News, Trump confirmed the following terms:
Permanent abandonment of nuclear weapons by Iran: Trump said during a phone gathering, “They agreed to never have nuclear weapons—that is what we have been insisting on.”
Hormuz Strait reopening: Trump confirmed that after the agreement is signed, it will be “immediately reopened.”
The United States lifts the blockade on Iranian ports: as reciprocal terms in the deal
Nature of the agreement: Trump described it as a “very strong understanding memorandum,” adding that “to some extent it is still a conceptual framework, but in the end it will be implemented.”
Signing arrangements: at the latest this weekend in Europe, with Vice President Vance attending; Trump said he may not be able to participate in person
Trump said the countries that recognize the agreement’s terms include: the United States, Israel, Saudi Arabia, the UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, and Egypt. Iran itself was not included on the list Trump provided, nor was Lebanon.
Hours After the Threat on Truth Social, He Announced Cancellation of the Airstrike
On Thursday morning, Trump threatened on Truth Social that the US would strike Iran “very severely” that night, adding that it would take over Iran’s Khark Island and other key energy infrastructure, and achieve “full control” of Iran’s oil and natural gas markets.
A few hours later, Trump announced in the Oval Office that the US had “just reached a great reconciliation agreement with Iran,” canceling the airstrike. Trump added that blocking Iran from obtaining nuclear weapons accounted for “95%” of the reason the US government pressured Tehran. Trump also spoke separately that day with the prime ministers of Qatar, the UAE, Saudi Arabia, and Israel—Benjamin Netanyahu (Netanyahu)—and planned to follow up with Turkey’s President Erdoğan (Erdoğan).
CME FedWatch Data and the Latest US Economic Indicators
Based on official data released on June 11 and the previous day:
Fed rate hike probability: after the airstrike was canceled, CME FedWatch showed the probability of a December rate hike falling from 69% to 62%
Initial jobless claims: for the week ended June 6, the number of claims that cleared was 229,000, above the expected 219,000
May PPI: the increase exceeded market expectations
May CPI: rising at the fastest pace in three years due to a sharp surge in energy-related product prices
Investors are also waiting for next week’s Fed meeting, which will be the first meeting since Warsh took over as Fed chair; the market expects policymakers to keep interest rates unchanged.
Frequently Asked Questions
Has the US-Iran agreement announced by Trump officially taken effect or been signed?
Based on Trump’s June 11 remarks, the agreement “to some extent still remains a conceptual framework”; the related documents are awaiting finalization, and are expected to be signed “within the coming days,” with the earliest signing in Europe this weekend. As of the time of reporting, the agreement has not yet been officially signed.
Is Iran included in the list of countries recognizing the agreement’s terms?
Based on the list provided by Trump (the United States, Israel, Saudi Arabia, the UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, and Egypt), Iran itself is not on the list, and Lebanon is also not included.
When did Bitcoin rebound to above $63,700?
According to the article, Bitcoin rebounded to above $63,700 on June 12, 2026 (the day after Trump announced the related news).
