US President Donald Trump said a deal to end the US-Iran standoff would be signed on Sunday, despite officials in Tehran previously casting doubt on the timeframe.
“The agreement should be signed tomorrow, and immediately after the signing, the Strait of Hormuz is OPEN FOR EVERYONE”, he said Trump at the Truth Social on Saturday.
Source: Donald Trump
Pakistan, which mediates talks between the US and Iran, as well signaled an agreement can be reached within 24 hours.
The agreement, a memorandum of understanding, is expected to extend the cease-fire between the US and Iran for 60 days and reopen the Strait of Hormuz.
The maritime blockade choked 20% of the world’s oil and liquefied natural gas supply, sending global asset prices higher and a sentiment shock that weighed on crypto markets for months.
“We are closer to a peace deal than ever before,” Pakistani Prime Minister Shehbaz Sharif said on X on Saturday. “With the finalization likely expected in the next 24 hours, Pakistan is preparing to electronically sign the peace agreement immediately thereafter, followed by technical-level talks next week.”
Iran did not confirm the signing on Sunday.
Iran’s Foreign Ministry spokesman Esmaeil Baghaei told state media earlier that the memorandum would not be signed on Sunday but could happen “in the coming days.”
“We will have to wait and see the exact date of the signing of the memorandum of understanding, although it will not be tomorrow,” Baghaei said.
Analysts say the peace deal will use crypto
Crypto analyst Michaël van de Poppe he said a peace deal between Iran and the US is likely to prompt a Bitcoin wavealong with positive ETF flows.
Spot Bitcoin Exchange Traded Funds (ETFs) recorded about $315.84 million in net outflows for the week ended Friday, marking the fifth consecutive week of outflows for Bitcoin-related crypto funds.
Related: Bitcoin Has $63.2K As BTC Price Ignores Inflation, Iran Hormuz Shutdown
“Liquidity will flow back into risk assets because liquidity will look for opportunity, and after the SpaceX IPO, it will most likely go towards crypto,” he added.
On Wednesday, CoinShares head of research James Butterfill told Cointelegraph recent outflow of digital asset investment products was primarily driven by geopolitics, with uncertainty over the conflict in Iran weighing on the outlook for interest rates.
At the time of writing, Bitcoin was trading at $64,491, up 1.5% in the last 24 hours.
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