Crypto Market Sentiment Lifted by US-Iran Peace Deal Hopes

The crypto market sentiment has seen an improvement due to renewed expectations of a peace deal between the U.S. and Iran, which is expected to extend the ceasefire and ease the Strait of Hormuz blockade.

This development has led to a decline in crude oil prices and a weakening of the U.S. dollar, both of which have contributed to a positive sentiment towards digital assets.

Bitcoin (BTC) traded between $63,868 and $62,280 in the past 24 hours, with its price currently at $63,375.91, a 1.1 percent increase from the previous day.

The overall crypto market capitalization has increased by around 1 percent to $2.17 trillion during the same period.