Cryptocurrency prices were slightly higher on Monday amid growing odds in markets predicting a near-term peace deal between the United States and Iran, as Iranian negotiators arrived in Doha for talks.
Bitcoin gained 1.6% in 24 hours to $77,500, ether rose 1.4% and the broader CoinDesk 20 (CD20) added 1.56%.
Polymarket traders pushed the likelihood of a permanent deal this month to 37%, up from around 14% on Friday. The chances of reaching an agreement are 46% at the beginning of June and 72% at the end of July. The market generated a volume of approximately $178 million.
The move follows a Truth Social post from President Trump on Saturday saying the framework agreement was “subject to finalization.” Iran’s chief negotiator Mohammad Bagher Ghalibaf, Foreign Minister Abbas Araghchi and Central Bank Governor Abdolnaser Hemmati arrived in Doha earlier today for talks, according to CNN.
A diplomat briefed on the visit told CNN the agenda focused on the Strait of Hormuz and highly enriched uranium. At the same time, Iran’s Foreign Ministry described the deal as a memorandum of understanding in a first phase, with broader negotiations over 30 to 60 days, CNBC reported. Pakistan and Qatar are in mediation.
The Strait of Hormuz has been largely blocked since the United States and Israel struck Iran on February 28, although traffic has partially resumed in recent days.
Crude oil fell 5.4% to $91.30 a barrel. Gold rose 1.35% to $4,570 an ounce. The dollar weakened, with the US Dollar Index (DXY) falling around 0.3%.
Trump’s tone remains conditional. “It will only be a good deal for all, or no deal at all: back to the front and shooting, but bigger and stronger than ever,” he wrote Monday.
Read more: Bitcoin trades above $77,000 as 5% drop in oil pushes Asian stocks higher
