The US/Israel realized:

that their regime change plans were not coming to fruition,
that the Iranian govt had more support and stronger foundations than they had believed,
that Israeli air defense was collapsing/exhausted and
that an attrition war of long range strike was going to go badly for Israel.
And Trump began to get freaked out over the rising price of oil with the Iranian threat of closing the strait of Hormuz.

So they wrapped it up, declared victory, and demanded a ceasefire.

Iran agreed because they too have been badly shaken through Israeli covert warfare and their own air defense all but collapsed.

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