Live updates: Bitcoin stuck in tight range as risk assets rise on Iran deal hopes
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- Treasury Secretary Scott Bessent said a deal with Iran is imminent, sending WTI crude oil down 5% to slide below $76/barrel for the first time in several weeks
- U.S. Treasury yields fell across the curve — the 10-year dropped 4.5bps to 4.64% and the 2-year fell 6bps to 4.19%
- Fed September rate hike odds collapsed from 70% to 57% per CME FedWatch as traders repriced monetary policy expectations
- U.S. stocks climbed near session highs about an hour into trading, led by the Nasdaq's 1.5% advance
- Bitcoin flatlined near $63,700, stuck in a tight range and failing to participate in the broader risk-asset rally
Why it matters: Oil producers face a hit with crude down 5%, while the Nasdaq jumped 1.5% on Bessent's imminent Iran deal comments. Fed September hike odds collapsed from 70% to 57%, but Bitcoin stayed flat near $63,700 — a clean decoupling from the risk-on trade.
