Bitcoin approaches $82,000 as oil crashes 6% on fresh Iran peace deal hopes
Key takeaways
- Bitcoin BTC$81,476.63 extended Asian gains to trade close to $82,000 during the European hours, as futures tied to Wall Street's tech heavy index Nasdaq rose over 1%.
- The move followed an Axios report that Washington and Tehran are close to a one-page memorandum of understanding aimed at ending the war.
- The report raised hopes for the normalization of oil flows through the Strait of Hormuz, which has reportedly been mined by Iranian forces.
Bitcoin BTC$81,476.63 extended Asian gains to trade close to $82,000 during the European hours, as futures tied to Wall Street's tech heavy index Nasdaq rose over 1%. Futures tied to WTI crude oil fell 6% to $95.28 per barrel.
The move followed an Axios report that Washington and Tehran are close to a one-page memorandum of understanding aimed at ending the war. The draft agreement is said to include negotiations between U.S. envoys Steve Witkoff and Jared Kushner and Iranian officials, conducted both directly and through intermediaries.
The report raised hopes for the normalization of oil flows through the Strait of Hormuz, which has reportedly been mined by Iranian forces. The disrupted flows since late February have wreaked havoc in energy markets across the world, especially in Asia.