Crypto13 June, 20262 min read
Bitcoin Climbs Above $64,000 After Pakistan PM Shehbaz Sharif Says US-Iran Peace Deal Near
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Bitcoin trades above $64,000, intraday high over $64,200, up ~8% from June low. U.S. spot bitcoin ETFs posted $85.9 million net inflows, largest since May 14.
Deal Hopes Lift Bitcoin
Bitcoin climbed above $64,000 as Pakistan’s Prime Minister Shehbaz Sharif said the United States and Iran have reached a consensus on a peace agreement, with finalization potentially coming within the next 24 hours. Sharif said, “Peace has never been this close,” framing the moment as a historic inflection point for the region, and the Crypto Briefing said Bitcoin rose about 3% after the diplomatic developments.
Cryptonews.net reported Bitcoin gained more than 8% from its June low near $59,000 and reached an intraday high of more than $64,200 as traders priced in reduced geopolitical risk. CoinDesk also tied the move to Sharif’s X post, saying “We are closer to a peace deal than ever before,” with Pakistan preparing for electronic signing immediately afterwards and technical-level talks next week.
ETF Flows and Analysts
Alongside the Iran-U.S. ceasefire expectations, Cryptonews.net said U.S. spot bitcoin ETFs recorded $85.9 million in net inflows on Friday, the largest daily inflow since May 14. CoinDesk echoed that Friday’s ETF inflows were the highest level since May 14, stating that net inflows totaled $85.9 million, and it added that Bitcoin reached an intraday high of more than $64,200.
Cryptonews.net reported a Standard Chartered analyst said ETF holders had been liquidating their positions “to free up cash to participate in the SpaceX initial public offering,” and said SpaceX’s IPO launch on Friday could ease that selling pressure. The Defiant also described a separate catalyst for price moves, saying Trump wrote that “discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved,” as Bitcoin climbed above $63,600 after a 24-hour low of $61,101 earlier Thursday.
Fragile Truce, Market Watch
Even as optimism grew around a deal, Yellow’s recap said U.S. forces shot down several Iranian drones in the strait early Saturday, underscoring how brittle the truce remains. Yellow also said the agreement would reopen the Strait of Hormuz and could lift U.S. sanctions on Iran, while it added that Trump warned the version made public was not what had been agreed.
“Trump said the terms of the war-ending deal circulating in Iranian state media have ‘NOTHING to do with the terms that were agreed to, in writing.’”
The Defiant reported Trump said, “The Naval Blockade will remain in full force and effect until this Transaction is finalized,” and it noted that the “time and place of the signing” would be announced shortly. In parallel, CryptoPotato said the weekly recap turned again when Trump said the terms circulating in Iranian state media have “NOTHING to do with the terms that were agreed to, in writing,” and it described how Trump’s cancellation of scheduled retaliation attacks had an immediate effect on crypto markets as BTC jumped by about $1,500 in minutes.