Bitcoin (CRYPTO: BTC) is above the 200-day exponential moving average for the first time in three months as U.S. spot Bitcoin ETFs recorded $467 million in inflows and oil crashed 6% on U.S.-Iran peace deal hopes.
Iran Peace Deal Hopes Trigger Risk-On Rally
Bitcoin climbed to $82,000, alongside a more than 1% rise in Nasdaq futures amid reports of progress toward a U.S.-Iran memorandum of understanding.
Axios reported Wednesday that Washington and Tehran are close to a one-page memorandum aimed at ending the war.
The draft agreement includes negotiations between U.S. envoys Steve Witkoff and Jared Kushner and Iranian officials conducted directly and through intermediaries.
The report raised hopes for normalizing oil flows through the Strait of Hormuz, which has been mined by Iranian forces.
Disrupted flows since late February have wreaked havoc in energy markets worldwide, …
