Bitcoin climbed above $65,000 amid reports of progress toward an interim US-Iran agreement that would reopen the Strait of Hormuz. Oil prices fell sharply while US stock futures advanced. Conflicting statements have emerged on the exact signing timeline.
The price of Bitcoin reached $65,700, up 2 percent in the past 24 hours and marking its highest level since the early June decline. WTI crude oil dropped nearly 5 percent to just under $81 per barrel.
Nasdaq 100 futures rose 1.5 percent and S&P 500 futures gained 0.9 percent. Spot Bitcoin ETFs recorded $85.9 million in net inflows on June 12 after four sessions of outflows.
The US and Iran described an interim deal to end hostilities, with one report indicating the agreement would be signed in Switzerland on Friday. President Trump stated the deal is set to be signed on Sunday, though Tehran has cast doubt on that timeline.
A Western source had earlier pointed to a possible signing as soon as June 14 in Geneva, while Pakistan's prime minister said an agreement was near.
