Trump: The final peace agreement between the U.S. and Iran has been roughly completed, the Hormuz Strait is about to reopen, and Bitcoin suddenly jumps to 77k.

U.S. President Trump posted on Truth Social on May 23, saying that the U.S.-Iran peace agreement is nearing finalization, the Hormuz Strait will reopen, and details will be announced “soon.” This is Trump’s clearest statement to date on the deal; geopolitical risk cooling helped drive a sharp surge in Bitcoin, rebounding to $77,000.
(Background recap: U.S. and Iran negotiation teams facilitated a “second meeting,” but details such as the schedule and location have not been confirmed.)
(Additional background: Bitcoin around $83,000 is volatile — this week, major rate decisions from the U.S., UK, and Japan central banks are coming: watch the Fed dot plot.)

Bitcoin rebounded sharply from its overnight low, and by a little after 4 a.m. this morning it surged back above $77,000. The momentum was driven by a statement from U.S. President Trump on Truth Social, saying that the peace agreement between the U.S. and Iran has “largely completed negotiations; the final details and terms of the agreement are currently under discussion and will be announced soon.”

Trump “most explicit statement to date”

On Truth Social, Trump revealed that at the time he was in the White House Oval Office and had just finished a “very smooth” video call with leaders from Saudi Arabia, the United Arab Emirates, Qatar, Pakistan, Turkey, Egypt, Jordan, and Bahrain. The discussion centered on Iran and the peace memorandum.

He also said he had another one-on-one call with Israeli Prime Minister Netanyahu, and described that process as “very smooth” as well.

On the other hand, Trump pointed out that the Hormuz Strait will reopen as well. This shipping lane, which is the passage for roughly 20% of global oil exports, once the blockade is lifted, is expected to significantly reduce concerns about the Middle East’s energy supply chain.

This is the most direct public statement Trump has made so far on the agreement. His wording has been upgraded from the earlier “negotiations are making progress” to “approaching finalization,” which diplomatic observers widely view as a clear signal that the deal is entering its closing stage.

Pakistan-led, Qatar and Gulf countries exerting simultaneous pressure

The push behind this geopolitical chess match is not only coming from the U.S. and Iran. According to diplomatic sources, Pakistani Army Chief Munir served as a key intermediary in this round of talks. Qatar has carried out large-scale mediation over the past week, while Saudi Arabia, Egypt, and Turkey simultaneously applied pressure to both sides to help narrow differences.

At present, the goal set by all parties is to complete a one-page framework agreement by Sunday in U.S. Eastern Time, then formally announce it. In the following few days, more detailed formal negotiations would be launched to handle technical issues such as the follow-up arrangements to the nuclear program and the timeline for lifting sanctions.

On the same day, Iran’s Foreign Ministry spokesperson also said that Iran and the U.S. have entered the final discussion stage of the “End War Memorandum.” Iran’s core demands include: gradually reopening the Hormuz Strait, lifting U.S. sanctions, releasing frozen Iranian overseas funds, and a detailed follow-up negotiation timetable of 30 to 60 days.