Bitcoin

Geopolitical risk has been a persistent drag on risk assets; a credible US-Iran detente would reduce safe-haven demand for gold and the dollar, freeing capital for higher-beta plays like crypto. It also lowers the probability of oil price spikes that could reignite inflation and delay Fed rate cuts.

Iran is considering a US proposal to end the war, and the White House believes it is close to a 14-point memorandum of understanding.