U.S.-Iran talks hit a deadlock, oil prices rise, and Bitcoin holds steady at 78K

ETH0,63%

Impacted by stalled US-Iran talks and rising oil prices, US stocks pulled back. Bitcoin edged slightly lower; as of the time of this report, it was still above 78K, and the trend remained relatively steady. Bitcoin spot ETFs have registered net inflows for six straight days. Market sentiment, the (Fear and Greed Index), fell slightly, but it still stayed in a comparatively optimistic “greed” range.

US-Iran talks stall, oil prices rise

Trump ordered the US Navy to fire on any vessels that are bombed in the Strait of Hormuz, while also saying that Tehran wants to reach an agreement—negotiations are ongoing—and reminding Americans that they should “prepare for higher gasoline prices in the short term.” Israeli N12 News reported that Iran’s parliamentary speaker has withdrawn from the negotiating team, raising concerns that Iran’s Islamic Revolutionary Guard Corps is tightening its control over Iran.

Because markets are worried that the peace talks are stuck in a deadlock, rhetoric is escalating further and further, and military threats keep increasing, a geopolitical risk premium has pushed up oil prices. After a day of choppy trading, oil prices jumped sharply at the end of the trading session. As of the time of this report, Brent crude (Brent) was trading above $105, while US West Texas Intermediate crude (WTI) was at $97.

Although the United States has repeatedly assured the safety of the Strait of Hormuz, increasing evidence suggests that transiting the strait is not safe, because both the US and Iran have blockaded it.

Bitcoin holds at 78K, ETF inflows continue

Driven by an escalation of tensions in the Middle East, Bitcoin edged down slightly; as of the time of this report, it was still above 78K, and the trend remained relatively steady. Market sentiment (Fear and Greed Index) fell slightly, but it still stayed in a relatively optimistic “greed” range. Average funding rates turned slightly negative, indicating that traders were not actively adding leverage.

Bitcoin spot ETFs have posted net inflows for six consecutive days, and Ethereum spot ETFs have posted net inflows for nine consecutive days.

The article “US-Iran talks stall, oil prices rise; Bitcoin holds steady at 78K” was first published on Chain News ABMedia.

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