Bitcoin ($BTC) surged above $80,000 amid growing expectations that tensions in the Middle East will ease.
While markets await the end of the US-Iran war, US-based news outlet Axios stated that the US-Iran war is very close to ending.
According to Axios, the US and Iran are about to sign a memorandum of understanding to end the war.
Axios, citing multiple sources, reported that the US and Iran have established a framework for detailed nuclear negotiations and are close to signing a one-page memorandum of understanding to end the war.
Axios reported, “The U.S. expects to receive answers from Iran on several key issues within the next 48 hours. These talks are the closest the two sides have come to an agreement since the start of the war.”
Negotiations between the two countries have been ongoing for weeks, but a full agreement has not been reached. At this point, Walter Bloomberg stated that the main points of disagreement between the two countries are “the temporary suspension of uranium enrichment, abandonment of nuclear weapons development, acceptance of UN inspections, and restrictions on underground nuclear facilities.”
In return, the US and Iran are reaching an agreement on easing restrictions on passage through the Strait of Hormuz.
Finally, following news that the war between the US and Iran is coming to an end and a peace agreement is imminent, Bitcoin surpassed $82,000. This marks the first time $BTC has reached the $82,000 level since January.
Brent crude oil prices fell below $101 per barrel, reaching their lowest level since April 27.
*This is not investment advice.