The risk in the Strait of Hormuz has eased, and the market's tense nerves are temporarily relaxed.

The biggest variable in the market these days still comes from the Middle East.

Previously, Iran's announcement to close the Strait of Hormuz triggered global attention, causing significant fluctuations in oil, gold, and the crypto markets. As one of the world's most important energy transportation routes, the Strait of Hormuz carries a large portion of global crude oil and natural gas shipments. A prolonged disruption would impact more than just the energy market.

However, the latest developments show that the situation is moving in a relatively positive direction.

Negotiations between the U.S. and Iran held in Switzerland have achieved a phased breakthrough, with both sides reaching a preliminary agreement on safe passage mechanisms for ships through the Strait of Hormuz, and progress has been made on issues like the unfreezing of frozen assets. Qatar and Pakistan, as mediators, participated in the talks, and a 60-day negotiation roadmap has been established.

After the news was announced, market sentiment clearly improved.

Previously, due to geopolitical risks, funds remained tense, but they are now reassessing risks. Asia-Pacific stock markets responded first, with the Japanese stock market reaching new historical highs again, and shipping, energy transportation, and related sectors performing actively. Concerns about disruptions in the global energy supply chain have eased.

For the crypto market, this is also a signal worth paying attention to.

In recent times, both Bitcoin and the entire crypto market have been under pressure from macroeconomic and geopolitical uncertainties. Whenever conflicts escalate, sanctions expand, or energy risks rise, risk assets often face sell-offs driven by risk-averse capital.

The core message from this negotiation is: the most extreme scenario has not occurred for now.

Although there is still a long way to go to fully resolve the issues—such as nuclear concerns, regional security, and subsequent sanctions arrangements—at least the risk of a complete blockade of the Strait of Hormuz, which markets feared most, has significantly decreased.

For investors, what truly impacts the market is often not the positive news itself, but the disappearance of uncertainty.

Once the worst-case expectations are ruled out, funds will naturally look for opportunities in risk assets again. Whether the Middle East situation can continue to progress according to the established roadmap may become an important variable influencing the trends of crude oil, U.S. stocks, and the crypto markets. #美伊谈判第一轮结束 @Gate 广场