BTC Surges Above $64K Amid Reports of Iran-US-Oman Deal

Bitcoin's price has recovered from its dip to $62,200 and is now sitting confidently above $64,000.

The market appears to be pricing in a recent positive development on Middle East uncertainty.

A report from Axios indicates that the US, Iran, and Oman are close to securing an interim agreement to reopen the Strait of Hormuz. According to the report, all inbound traffic would go through the Iran-controlled northern lane, while outbound traffic would pass through the southern lane through Omani waters.

The deal also stipulates that neither side will charge fees or tolls for a 60-day period, and the parties will work on clearing naval mines from the median lane. The temporary arrangement is expected to pave the way for a permanent agreement between Oman and Iran.