Provisional U.S.-Iran deal lifts Bitcoin to $65,700

CoinDesk reported that the United States and Iran have signaled a provisional agreement to halt hostilities, with documents expected to be signed in Switzerland on Friday. Markets moved quickly on expectations that the Strait of Hormuz will reopen to shipping: oil prices slid, while stock index futures and Bitcoin advanced. WTI crude fell nearly 5%, dropping below $81 a barrel to the lowest level in about two months. The prospect of renewed traffic through the Strait of Hormuz, a key global energy corridor, has eased fears of supply disruptions. U.S. equity futures also climbed as risk appetite improved. Nasdaq 100 futures rose 1.5% and S&P 500 futures gained 0.9%. The pullback in oil has tempered inflation worries and expectations of higher corporate input costs. Bitcoin rose to around $65,700, up about 2% over the past 24 hours and marking its highest level since the early-June decline. The move tracked gains in other risk assets, underscoring how easing geopolitical tensions are supporting broader market sentiment.