During the European morning session on Wednesday, Bitcoin (BTC) climbed close to $82,000, reaching $81,476.63. Concurrently, Nasdaq futures surged over 1%, reflecting a global rally in risk assets as oil prices dropped by 6% due to optimism surrounding U.S.–Iran peace talks. WTI crude oil futures fell to $95.28 per barrel.
This shift followed an Axios report suggesting that Washington and Tehran are nearing a one-page memorandum of understanding aimed at ending the conflict, with negotiations involving U.S. envoys Steve Witkoff and Jared Kushner alongside Iranian officials through direct and intermediary channels.
The potential agreement raised hopes for normalized oil passage through the Strait of Hormuz, reportedly mined by Iran, which has disrupted global energy markets since late February, particularly affecting Asia.
According to the report, Iran might agree to remove highly enriched uranium from its territory, meeting a key U.S. demand previously resisted by Tehran. However, some market participants remain doubtful about a lasting resolution, especially concerning nuclear concessions.
ForexLive’s currency analyst Justin Low expressed skepticism regarding Iran’s potential concessions on nuclear issues. “I’m a bit skeptical on the final point about Iran ceding ground on the nuclear front. But we’ll have to wait and see,” he commented.
Despite these uncertainties, the prospect of de-escalation prompted traders to pivot towards risk assets while reducing exposure in energy markets, anticipating decreased geopolitical tensions.