Tehran & DC Almost Shaking Hands — Crypto Still Shaking 🫱

The United States and Iran are on the verge of signing a memorandum that would extend their ceasefire and reopen the Strait of Hormuz, according to a BBC report. The proposed deal conditions any benefits to Iran on its compliance with the agreed commitments, and US officials have released details of the structured framework as negotiators enter what observers describe as the final stage.

Despite the diplomatic progress, the crypto market remained in the red, with major assets failing to mount a rebound on the news. The dampened response comes against the backdrop of the US Federal Reserve's latest Federal Open Market Committee meeting, at which the central bank kept interest rates unchanged.

Industry participants had been weighing whether a de-escalation in US-Iran tensions could revive risk appetite and draw capital back into digital assets. A reopening of the Strait of Hormuz, a chokepoint for global energy shipments, has been cited as a potential stabilizer for commodity-linked markets, though no direct link to crypto pricing was established in the reports reviewed.

The diplomatic push coincides with the G7 summit, where leaders have been addressing the broader geopolitical and economic backdrop. The terms outlined in the US-Iran memorandum include compliance-linked conditions and a phased reopening of critical maritime routes, with both sides indicating that remaining technical details are expected to be resolved before the agreement is finalized.

Markets are awaiting confirmation of the signing and any accompanying statements from US and Iranian officials, while the Federal Reserve's steady policy stance continues to set the macro tone for risk assets.