Global events can have a significant impact on cryptocurrency markets, and recent developments in the Middle East are no exception. A truce between the United States and Iran has led to a decline in uncertainty, causing demand for safe-haven assets like the US dollar to weaken.
This shift is reflected in various market indicators, including the DXY index, which has declined from levels above 100 points to around 98.7. The decrease in dollar demand has created an environment where risk markets can regain ground, and cryptocurrencies are no exception.