Trump G7 Summit Press Pumps Bitcoin as Oil Crashes

The Bitcoin price moved past the $66,000 threshold on Wednesday as US President Trump explained the Iran deal in his press address at G7 Summit.

Meanwhile, the oil price slid lower as Trump’s remarks shed more light on the US-Iran deal ahead of the formal signing in Switzerland.

Trump Addresses Iran Deal In G7 Summit Press

President Trump delivered a high-stakes update on the U.S.-Iran Memorandum of Understanding during the G7 summit press conference on June 17, 2026, driving immediate market moves across risk assets.

Trump confirmed the framework includes a ceasefire, full reopening of the Strait of Hormuz, limited sanctions relief, and Iran’s pledge against nuclear weapons.

A formal signing is expected soon in Switzerland.

“If Iran doesn’t honor the agreement, back to bombing them,” Trump stated bluntly. He added that some understandings remain unwritten and praised the impact of recent U.S. strikes: “Amazing what bombs can do.”

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President Trump also highlighted market surges tied to Iran peace signals during the G7 summit press conference.

“Every time we talked about possibility of peace, market shot up like a rocket ship,” Trump declared. “Never really went down. The stock market is more brilliant than anybody.”

He linked these rallies to the U.S.-Iran MOU, which includes a ceasefire, Strait of Hormuz reopening, and limited sanctions relief, while warning of renewed strikes if Iran fails to comply.

The “peace through strength” narrative, backed by explicit military leverage, has reduced short-term volatility premiums.

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