Iran and the U.S. reach a peace agreement, boosting the global markets, but the crypto market reacts cautiously

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BlockBeats News, June 15 — After Iran and the U.S. reached a peace agreement over the weekend and promoted the reopening of the Strait of Hormuz, international oil prices fell more than 4%, and Asia-Pacific stock markets generally rose, with Japan's Nikkei 225 index hitting a record high. However, the crypto market's gains were limited; Bitcoin rose about 3.4% over the weekend but still hovered around the $66k mark, with Ethereum performing similarly, as the market remains skeptical about the sustainability of the agreement.

Analysis suggests that due to multiple previous ceasefire agreements breaking down, traders are hesitant to heavily bet on the yet-to-be-fully-signed deal. Derivatives data shows Bitcoin open interest rising to $17.4 billion, indicating renewed institutional interest, but funding rates remain low, suggesting limited leverage demand in the market.

Additionally, the sharp rise in SpaceX's IPO and the preparations of OpenAI and Anthropic for going public are also competing for venture capital with crypto assets.

BTC3.69%
ETH8.66%
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