President Trump said a U.S.-Iran deal could be signed within two or three days, calling it 'very close' and 'a strong one.' The comments, made Tuesday, sent crude oil prices sliding and gave Bitcoin a fresh push above $62,000. Traders are now betting a nuclear accord could unlock a run toward $65,000 or higher.
Bitcoin rallies on deal hopes
Bitcoin was trading around $62,350 on Wednesday after recovering from recent lows near $59,500. The move follows Trump's remarks and a broader easing in Middle East tensions. Iran and Israel said they had halted attacks, while Trump warned Israeli Prime Minister Netanyahu that continued military action could reduce U.S. backing. Traders eye a potential Bitcoin move toward $65,000 if a U.S.-Iran deal is sealed, with further upside to $70,000 and beyond on stronger buying.
Oil slides as tensions ease
Brent crude fell to $92.60 a barrel and West Texas Intermediate to $89.10, according to Reuters. The Strait of Hormuz, which handles a large share of global oil and gas flows, is central to any deal. Any easing of tension there could further cool prices. The drop in oil, combined with a broader risk-on mood, is seen as a tailwind for crypto assets.
What's still on the table
Key unresolved issues include sanctions, nuclear limits, long-term security guarantees, frozen funds, and the future of shipping through the Strait of Hormuz. Skepticism remains because Trump has previously raised hopes of a near-term deal that did not materialize, and talks have stalled over similar issues before. Still, the president's latest comments are the most definitive he has made.
For now, the market is pricing in a positive outcome. If the deal is signed in the next few days, Bitcoin could test $65,000 quickly. If talks falter again, the retreat could be just as fast.
