President Donald Trump announced on Truth Social that the U.S. ceasefire with Iran had officially ended, though diplomatic talks would continue through Qatari mediators in Tehran. The ceasefire, in place since June 17, was abruptly terminated, reigniting uncertainty around the Strait of Hormuz, a critical chokepoint for global energy shipments. Oil prices surged immediately on the news, while Bitcoin extended recent gains, climbing to around $64,100 after more than $80 million in short positions were wiped out. Standard Chartered maintained its year-end Bitcoin price target of $100,000, even as traders weighed the risks of prolonged military escalation.
Trump later warned that the U.S. had missiles ready and could launch a year-long military campaign if Iran targeted him. Iran’s foreign minister accused Washington of breaking the nuclear deal, insisting compliance must be mutual. The mix of ceasefire collapse and ongoing diplomacy created a volatile backdrop, pushing investors toward both energy commodities and digital assets like Bitcoin, which some see as a hedge against geopolitical instability.
