A potential peace deal between the United States and Iran could be finalized within 24 hours, with Bitcoin (BTC) hovering near $64,000 as traders weigh the outcome.
Key Points:
- Pakistan's prime minister said a U.S.-Iran peace deal is likely within the next 24 hours.
- The agreement would reopen the Strait of Hormuz and could lift U.S. sanctions on Iran.
- Bitcoin held just below $64,000 as traders priced in lower oil and easing macro pressure.
Sharif Signals Imminent Deal
Pakistan's prime minister Shehbaz Sharif said the two sides stood closer to an accord than ever and expected to finalize it within a day. Prime minister, a central mediator in the talks, confirmed that Islamabad would move to an electronic signing right away. Technical-level talks would follow next week.
The optimism followed matching signals from both governments, with Iranian Foreign Minister Abbas Araghchi describing the Islamabad memorandum as never having been closer, even as he cautioned that nothing had yet been signed.
President Donald Trump had earlier said a deal was near and promised to name a time and venue soon. He later warned that the version made public was not what had been agreed.
The deal would reopen the Strait of Hormuz and lift the U.S. naval blockade at the vital oil chokepoint. It could also end Iran's nuclear threat, with Washington signaling it may ease sanctions if Tehran honors the terms. Even so, U.S. forces shot down several Iranian drones in the strait early Saturday, underlining how brittle the truce remains.
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Standard Chartered Calls Bottom
Lower oil prices sit at the center of the crypto case. Brent crude eased toward $87 a barrel and West Texas Intermediate slipped near $85 as the truce talk spread, easing the inflation pressure that had punished risk assets. A blockbuster SpaceX IPO this week added another swing factor, pulling some cash out of crypto and into the listing.
Standard Chartered read the swing as a turning point.
Analyst Geoffrey Kendrick argued that Bitcoin's slide to $59,000 marked the cycle bottom and the close of crypto winter. He kept his year-end target of $100,000 for the coin.
Kendrick laid out the markers he wants before calling an all-clear. He is watching for Strategy, the firm run by Michael Saylor, to report a fresh Bitcoin buy, and for U.S. spot Bitcoin ETFs to return to net inflows. Those funds have shed more than $5.7 billion since mid-May, as some holders sold to chase the SpaceX listing.
Bitcoin's path into the weekend caps a rough run for the asset. The coin set a record near $126,000 on Oct. 6, 2025, then sank 53% to a $59,000 low on Jun. 5 before recovering toward $64,000. That rebound now faces its next test as the peace talks reshape the macro backdrop.
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