Trump’s Iran Decision Sparks $350 Billion Stock Market Frenzy, But Bitcoin Extends Losses
Wall Street added roughly $350 billion in market value within 15 minutes after Axios reported that US and Iranian negotiators had reached a draft ceasefire deal. Bitcoin (BTC) moved the other way, sliding more than 3% on the day.
The proposed 60-day extension still awaits final approval from President Donald Trump and Iran’s senior leadership, leaving the rally exposed to last-minute political resistance on both sides.
Wall Street Jumps on Draft Ceasefire Terms
The Axios report said US negotiators led by Steve Witkoff and Iran’s Abbas Araghchi agreed on a 60-day memorandum of understanding to extend the current truce.
The framework would launch nuclear talks, lift the US naval blockade in proportion to restored commercial shipping, and require Tehran to remove all mines from the Strait of Hormuz within 30 days.
The equity reaction was almost immediate, with the rally lifting stocks to new record highs within minutes of the headline.
“$350 Billion has been added to the US stock market in just 15 minutes after Axios reported the US-Iran deal is done and just pending Trump’s final approval,” analyst Bull Theory highlighted.
The deal also commits Iran not to pursue a nuclear weapon and prioritizes disposal of highly enriched uranium stockpiles during the first 60 days.
In exchange, Washington would discuss sanctions relief and the release of frozen Iranian funds. This is alongside a mechanism to ease humanitarian aid and goods deliveries also written into the memorandum.
However, the Axios ceasefire framework has not been signed, with reports suggesting Trump was briefed and asked for “a few days to think about it.”
“We now await final approval of the deal,” the Kobeissi Letter noted.
Reportedly, Mojtaba Khamenei, son of Iran’s supreme leader, has also withheld approval.
IRAN–U.S. DEAL REPORTEDLY BLOCKED AT TOP LEVELSA source cited by i24NEWS claims that while an agreement was reached between Iranian negotiator Araghchi and the U.S. team led by Witkoff, it has not been approved by Iran’s senior leadership.According to the report, Mojtaba…
— *Walter Bloomberg (@DeItaone) May 28, 2026
Bitcoin Slides as Stocks Rip
Despite the equity rally, Bitcoin extended the losses below $73,000, and was trading for $72,890 as of this writing, down nearly 5% in the last 24 hours.
The decline came on the same headlines that lifted equities to fresh records.
Sanctions and Naval Blockade Remain Active For Now
Treasury Secretary Scott Bessent said sanctions and the naval blockade remain active until a formal agreement is signed.
The @USTreasury continues our Economic Fury campaign against the Iranian regime.Their troops are not getting paid, the police are not reporting for work, and Kharg Island is shut down. The Iranian economy and currency are in free fall.Iran’s Persian Gulf Strait Authority…
— Treasury Secretary Scott Bessent (@SecScottBessent) May 28, 2026
He warned that any party facilitating tolls in the Strait of Hormuz would face Treasury action, naming Oman specifically.
“Oman, in particular, should know that the U.S. Treasury will aggressively target any actors involved – directly or indirectly – in facilitating tolls for the Strait and any willing partners will be penalized,” he added.
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Treasury has also moved to block both Iranian airlines from landing slots and refueling, he said.
The split between stocks and BTC sharpened Mark Cuban’s hedge critique. The billionaire said this month that he sold most of his holdings between roughly $120,000 and $88,000 because the asset stopped behaving like a hedge.
“Under that logic btc should be setting new highs. Instead it now trades as a risk on asset. That’s not what btc was meant to be,” Cuban explained.
Cuban’s argument restates the longer Bitcoin inflation hedge debate that intensified through 2026 as gold rallied to roughly $5,000 while BTC slipped.
Blockstream chief executive Adam Back has countered that BTC still climbed 25% from earlier lows during the Iran escalation period.
The next move may hinge on whether Trump signs and how quickly Tehran lifts shipping restrictions.
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