US-Iran Deal Eases Crypto Pressure, Bitcoin Holds Steady
- The US and Iran reached an interim deal to halt the war and reopen the Strait of Hormuz, affecting global oil supply.
- Brent crude oil prices fell over 4% to approximately $83, marking a three-month low.
- Asian shares rose more than 3%, with Japan’s Nikkei index nearing a record close.
- Bitcoin traded near $65,000, experiencing modest gains while remaining within the $63,000 to $65,000 range.
- Traders are cautious about the deal’s permanence until its signing on June 19 in Switzerland.
The interim agreement aims to alleviate macroeconomic pressures that have affected crypto markets recently, particularly through reduced inflationary pressures from cheaper oil. The Bank of Japan’s upcoming decision may also influence market liquidity and sentiment toward cryptocurrencies.
With Bitcoin holding steady at around $65,000 amid these developments, traders remain vigilant as they await further clarity on the geopolitical situation and its impact on markets. (Source)
