Crypto Holds Steady as US-Iran Deal Eases Oil Price Pressure

The US and Iran reached an interim deal to halt the war and reopen the Strait of Hormuz, which has been a major concern for the crypto market.

As part of the agreement, oil prices plummeted, with Brent crude dropping over 4% to around $83, its lowest level in three months. Asian shares also surged, with Japan's Nikkei heading for a record close.

The news had a limited impact on Bitcoin, which traded near $65,000, up modestly from the weekend and still within its recent range of $63,000 to $65,000.

However, traders are cautious about pricing in a permanent deal until the June 19 signing in Switzerland takes place. Trump has stated that he could restart strikes if nuclear talks fail, leaving sanctions unresolved.