Bitcoin pinned below $73,000 despite potential U.S.-Iran deal news
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- Bitcoin remained below $73,000, sliding despite positive market reactions to a reported U.S.-Iran ceasefire draft.
- U.S. and Iranian negotiators drafted a 60‑day memorandum to extend the ceasefire and start nuclear talks, though President Trump had not yet approved it.
- Scott Bessent warned the United States would not tolerate tolls on Strait of Hormuz shipping and pledged aggressive sanctions against facilitators.
- PCE index rose to 3.8% year‑over‑year in April, the highest since 2023, adding pressure on the Federal Reserve.
- Nasdaq rose 0.6% while WTI crude fell below $90 per barrel as investors cheered the potential peace deal while crypto stayed stagnant.
Why it matters: Equity and bond investors gain from the rally, while crypto holders see Bitcoin stuck below $73K and oil producers feel pressure as WTI falls under $90. The Treasury’s warning aims to keep the Strait of Hormuz open.
