Bitcoin

The potential de-escalation in the Middle East would lower oil prices and supply-chain disruptions, improving global growth forecasts at a time when recession fears are elevated. For crypto, this reduces a key macro tail risk, potentially triggering a short-term relief rally, but the market's extreme bearish positioning (BTC dominance high, altcoins weak) means any upside may be limited and driven by short covering.

Vanguard's Chief APAC Economist discusses the US-Iran agreement to halt war and its potential to boost the global economy despite significant uncertainty.