Trump Announces Potential US-Iran Peace Deal Impacting Global Markets
- US President Donald Trump announced a peace deal with Iran is set to be signed on Sunday, aimed at extending the ceasefire for 60 days.
- The deal could reopen the Strait of Hormuz, which currently affects about 20% of global oil and gas supply.
- Bitcoin was trading at $64,491, reflecting a rise of approximately 1.5% in the last day amidst market speculation about the peace agreement.
- Spot Bitcoin ETFs experienced net outflows of $315.84 million over the past week, marking five consecutive weeks of outflows.
- Analysts predict that a peace deal could lead to increased liquidity in risk-on assets, including cryptocurrencies like Bitcoin.
The anticipated signing of the memorandum has raised expectations for improved market conditions by potentially easing geopolitical tensions that have pressured crypto markets recently.
If finalized as planned, this deal may positively influence Bitcoin’s performance after recent ETF outflows and current trading prices around $64K. (Source)
