TLDR
- Bitcoin climbed to $63,450 after Trump announced a U.S.–Iran peace deal on June 11, 2026.
- BTC had fallen as low as $59,000 the prior week during geopolitical tensions.
- Spot Bitcoin ETF outflows hit $213.85 million on Wednesday, deepening from $77.4 million the day before.
- Analyst Ali Charts flagged a symmetrical triangle pattern on BTC with resistance at $63,000 and support at $61,000.
- The SpaceX IPO at $135/share and a $75 billion raise was cited as a factor pulling capital away from crypto.
Bitcoin rose around 3% on Thursday, June 11, 2026, reclaiming the $63,000 level after weeks of pressure from Middle East conflict.
The world’s largest cryptocurrency reached $63,450.18 at 17:44 ET, up from a low of $59,000 the prior week. The move came after U.S. President Donald Trump announced that a peace agreement with Iran had been reached.
BREAKING: President Trump says he has cancelled scheduled strikes on Iran and the time and place of a deal signing will be “announced shortly.” pic.twitter.com/cTH1NTOOzh
— The Kobeissi Letter (@KobeissiLetter) June 11, 2026
Trump posted on Truth Social that he had cancelled planned military strikes against Iran. He said the deal had been approved by a long list of regional parties including Israel, Saudi Arabia, the UAE, Qatar, Turkey, Pakistan, and others.
“We just made a great settlement of the war with Iran,” Trump told reporters, adding that a formal signing could happen in Europe within days.
The news sent risk assets broadly higher. U.S. equities surged while oil prices dropped as traders reacted to the easing of tension in the region.
What Had Pushed Bitcoin Lower
Earlier in the week, BTC had fallen as geopolitical tensions escalated. Trump had threatened further strikes and even the takeover of Kharg Island, a key Iranian oil hub. Retaliatory attacks between the U.S. and Iran rattled markets.
Crypto markets had already been under pressure, with more than $5 billion in outflows from spot Bitcoin ETFs over the prior three weeks.
On Wednesday alone, investors pulled $213.85 million from spot ETFs, up from a $77.4 million outflow the day before, according to SoSoValue data.
Spot Bitcoin ETFs See $19.03M Net Outflows on June 11, Fifth Consecutive Day of Outflows
On June 11 (ET), spot Bitcoin ETFs saw total net outflows of $19.03 million, marking the fifth consecutive day of net outflows. Spot Ethereum ETFs recorded total net outflows of $15.89… pic.twitter.com/wZpYuvIYSY
— Wu Blockchain (@WuBlockchain) June 12, 2026
The departure of institutional money was also tied to the highly anticipated SpaceX IPO. Elon Musk’s rocket company confirmed its IPO price at $135 per share on Thursday, raising $75 billion and targeting a valuation of $1.75 trillion.
Analyst Watching Key Price Levels
Crypto analyst Ali Charts, posting on social media, noted that Bitcoin had formed a symmetrical triangle pattern, with resistance sitting at $63,000 and support at $61,000.
“A decisive hourly close outside of this defined range could trigger a 10% price expansion as momentum unlocks,” the analyst wrote, adding they were watching volume closely at those boundaries for early signs of a breakout.
A breakout is imminent for Bitcoin $BTC.
I’m watching a symmetrical triangle, with resistance at $63,000 and support at $61,000 to determine the direction of the next move.
A decisive hourly close outside of this defined range could trigger a 10% price expansion as momentum… pic.twitter.com/Y9Fnzqzo6b
— Ali Charts (@alicharts) June 11, 2026
U.S. producer price inflation data released Thursday also kept Federal Reserve rate hike expectations alive, adding a layer of uncertainty to the market before Trump’s announcement shifted sentiment.
Bitcoin had traded down to around $62,300 earlier in the session after the hotter-than-expected PPI reading, before rebounding sharply on the Iran news.
At the time of writing, BTC was trading at $63,173.68, showing continued green candles on the 15-minute chart following Trump’s Truth Social post.
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