Crypto Prices Surge as US-Iran Peace Deal Boosts Optimism

Bitcoin and Ethereum prices have seen their strongest opening levels in about two weeks following news that the US and Iran are making progress toward a permanent peace deal. The deal, which would reopen the Strait of Hormuz, has boosted optimism among crypto traders, causing Bitcoin to open at $66,287.48, up 0.9% from yesterday's opening price. Ethereum also rose, opening at $1,794.94, up 4.1% from its previous opening.

The Federal Reserve is set to meet today to discuss their policy on inflation levels and potential rate hikes later in the year. This meeting will provide insight into how they view the current situation and whether the pending resolution will be enough to call off rate hikes.