The crypto market has continued to stay in the red, with the US-Iran deal gaining traction amid the continuing geopolitical tensions. According to recent reports, a potential breakthrough seems imminent.
For context, recent updates showed that the United States and Iran are close to signing a major deal to ease hostilities. This has fueled discussions in the market about whether such a move could boost the risk-bet appetite of investors, potentially helping in a crypto market rebound.
US-Iran Deal Nears Final Stage: Reports
A new memorandum between the United States and Iran could mark a turning point in a conflict that has stretched in recent months. According to a BBC report, the US officials have released details of a structured US-Iran deal, designed to extend the ceasefire and reopen critical maritime routes.
Meanwhile, the proposed deal focuses on reopening the Strait of Hormuz. In addition, it also outlines conditions tied to compliance, meaning Iran will gain benefits only after meeting agreed commitments.
Speaking at the G7 summit in France, President Donald Trump indicated that the US-Iran deal could be signed soon, possibly tomorrow. Notably, Vice President JD Vance is also expected to attend the formal signing ceremony.
This signals strong political backing for the deal. Analysts believe the announcement alone has already started shaping market expectations, even before the final signature.
Crypto Market Remains Cautious
Despite the US-Iran deal news, the crypto market has continued to face selling pressure. Bitcoin and major altcoins have stayed in the red today, with the global crypto market cap falling nearly 2% to $2.21 trillion.
In the macro news, the US Federal Reserve has kept the interest rate unchanged at its latest FOMC meeting. This has also caught the eyes of traders, especially with the US-Iran deal in focus.
Notably, the crypto market usually reacts to such news, as both the macroeconomic and geopolitical updates tend to impact the risk-bet appetite of investors. Recently, the crypto market has recorded some recovery after President Donald Trump confirmed intentions to sign the US-Iran peace deal.
However, despite that, the investors should stay cautious, as any last-minute update might impact the global financial sector, let alone the crypto market.
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