Iranian state television reported a draft U.S.-Iran memorandum to ease Gulf tensions on Thursday, but the White House immediately dismissed it as a fabrication. Bitcoin briefly fell then recovered as traders processed the conflicting signals.
The Iranian Report
State TV claimed the draft MoU included restoring Strait of Hormuz shipping and lifting naval blockades. Iran's government quickly clarified it was unofficial, demanding 'tangible verification' before engagement. This wasn't the first such report this quarter.
White House Rejection
The administration called the story 'a complete fabrication' and warned against trusting Iranian state media. President Trump reinforced this stance, stating the U.S. remained unsatisfied with all Iranian proposals. The timing wasn't great with energy markets already on edge.
Bitcoin's Bounce
Crypto traders reacted sharply to the news cycle. Bitcoin dropped hard for roughly an hour before clawing back most losses. It closed the day slightly lower despite the rapid reversal. Volume surged as the dip played out.
What's Actually on the Table
The reported draft mentioned UN Security Council referral within 60 days should talks progress, though no agreement exists. Ongoing Gulf tensions from the Iran-Israel conflict continue disrupting shipping lanes. Energy supply concerns remain very real for markets.
The 60-day window won't start without confirmed negotiations, which both sides now deny are happening.
