Bitcoin price rose after the United States and Iran announced that they had reached an interim agreement to end hostilities and reopen the Strait of Hormuz. With the increase in risk appetite in the market, the largest cryptocurrency increased by 2% in the last 24 hours and rose to $ 65,700. This level was the highest point since the sharp decline in early June.
Oil declined, futures indices rose
While it was stated that the agreement was expected to be signed in Switzerland on Friday, energy markets reacted quickly to the news. The barrel price of WTI crude oil fell nearly 5% to just under $81. This level was among the lowest levels in the last two months.
The United States and Iran announced that they had reached an interim agreement to end hostilities and reopen the Strait of Hormuz; The agreement is expected to be signed in Switzerland on Friday.
The Strait of Hormuz is known as a critical transit point through which a significant portion of global oil shipments pass. Therefore, the decrease in tension in the region eased concerns about energy supply and put downward pressure on oil prices.
Mini dictionary: The Strait of Hormuz is a strategic waterway connecting the Persian Gulf to the Arabian Sea. Geopolitical developments in the region may directly affect oil and risky asset prices, as it is seen as critical for global energy trade.
| Asset/Indicator | latest situation | Change |
|---|---|---|
| Bitcoin | $65,700 | up 2% |
| WTI crude oil | under $81 | Down about 5% |
| Nasdaq 100 futures | intraday direction | up 1.5% |
| S&P 500 futures | intraday direction | up 0.9% |
Risk appetite increased in crypto and stocks
The expectation that geopolitical risks may decrease has created an upward movement not only in energy markets but also in stock futures. Nasdaq 100 futures rose 1.5%, while S&P 500 futures rose 0.9%.
The rise in Bitcoin also progressed in parallel with this picture. Market participants have turned to crypto assets again as the search for a safe haven weakened and the general risk appetite recovered. The price’s rise to $65,700 marked a remarkable recovery after the decline in early June.
Bitcoin price rose 2% in the last 24 hours to $65,700, reaching its highest level since the drop in early June.
Other headlines and repetitive content in the news were excluded from the main development. At the center of the prominent movement was the relief created in global markets by the news of the temporary reconciliation between Iran and the USA.
