Bitcoin jolted modestly higher on Iran ceasefire report; oil tumbles 4%
An Israeli TV report said a one-month ceasefire could be announced soon.
Make us preferred on GoogleWhat to know:
- According to an Israeli TV report, a one-month ceasefire in the Iran war could be announced soon.
- The news sent crude oil down more than 4% and bitcoin higher by about 1%.
A down day in crypto became slightly less so in the minutes since U.S. stocks closed for the session.
According to Israeli Channel 12, a one-month ceasefire could soon be announced as part of a package being negotiated by White House envoys Steve Witkoff and Jared Kushner.
Other terms of the deal reportedly include a dismantling of Iran’s existing nuclear capabilities and that country’s vow to “never seek” nuclear weapons.
The news was felt most immediately in the oil market, with Brent Crude dropping from $104 to below $100 in a few minutes.
Trading down throughout the day and sitting near $69,000, bitcoin quickly popped back to $70,000.
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