Trump Cancels Iran Strikes and Announces Pending Peace Deal

Donald Trump announced the cancellation of planned military strikes on Iran, stating that a peace deal in the form of a memo of understanding could be signed as early as the weekend of June 13, 2026. The announcement follows a period of intense geopolitical instability that had previously driven significant market volatility.

The news triggered an immediate financial rally. Bitcoin surged 3%, rising from $61,100 to approximately $63,400, while the S&P 500, Nasdaq, and Dow Jones Industrial Average all trended upward. Brent crude oil prices dropped roughly 3% to near $90 a barrel as risks to global supply eased.

This shift comes after Bitcoin spot ETFs experienced $4.4 billion in net outflows over 13 sessions, a trend attributed to the US-Iran standoff. Despite the diminished geopolitical risk, investors remain cautious as they await the Federal Reserve System's meeting on June 16–17 for guidance on future interest rate cuts.