Bitcoin Blasts Past $82K on US-Iran Peace Deal Hopes
The price of Bitcoin climbed to a three-month high above $82,700 before easing back to around $81,700 as hopes for a US-Iran peace deal sent oil prices and the dollar plummeting.
Oil benchmarks WTI and Brent crude fell more than 6% each following reports that the US and Iran may be nearing an agreement. The U.S. Dollar Index dropped 0.5% on the day, down over 2% in the past month.
The Axios report indicated a one-page memo to end the war could include limits on nuclear activity, sparking a rally in cryptocurrencies. Bitcoin's price rose 0.4% in the last 24 hours, while Solana (SOL) and Binance Coin (BNB) led gains among top 10 cryptocurrencies by market capitalization.
However, uncertainty remains over a final deal, with President Trump warning that military action could resume at a higher intensity if talks fail. The comments came after he paused 'Project Freedom,' his initiative to guide ships through the Strait of Hormuz, citing progress in negotiations as the reason for the move.