Iran Rejects US-Led Peace Proposal, Global Markets Swing

Global markets have been affected by the rejection of a US-led peace proposal by Iran, leading to sharp fluctuations in stock and cryptocurrency prices. The proposal, which aimed to end the war through sanctions relief and nuclear limits, was met with swift rejection by Iran, citing its 'illogical' nature.

The initial surge in risk sentiment, driven by hopes of a ceasefire in the Middle East conflict, reversed as investors became increasingly cautious after Iran's rejection. Oil prices dropped on expectations of easing supply disruptions before rebounding, underscoring the sensitivity of energy markets to developments in the conflict.

Cryptocurrency prices also showed significant volatility, with Bitcoin holding near $71,386 and Ethereum trading at $2,176. The XRP price remained steady at $1.42 as investors continued to react to geopolitical headlines rather than fundamentals.