U.S.-Iran deal lifts stocks, weighs on oil. Crypto stays wary: Crypto Markets Today

The U.S.-Iran peace deal boosts global stocks while pushing down oil prices, but the crypto market remains cautious amid these developments.

The recent U.S.-Iran peace deal has caused a significant uplift in global markets, energizing equities while suppressing oil prices. However, amidst this whirlwind of activity, the crypto market today remains cautious, holding back on both exuberant rallies and the broader optimism seen in other sectors. What Impact Did the U.S.-Iran Deal Have on Markets? The peace agreement reached over the weekend has finally provided the stimulus many traders and investors in various markets have been anticipating. Following the announcement, the Strait of Hormuz is set to reopen, giving a boost to overall equities. Notably, Asia-Pacific shares soared 3%, and Japan’s Nikkei 225 reached a record high. With oil prices plummeting over 4% due to the good news, it’s clear that the market sentiment is leaning towards a more stable geopolitical climate. In contrast, the crypto market hasn't reacted as strongly to this positive news. Why Are Crypto Traders Feeling Wary? Despite modest gains, Bitcoin (BTC) and other major cryptocurrencies are showing significant skepticism regarding this peace deal's sustainability. Currently, Bitcoin is sitting at $66,562.62 , remaining somewhat stagnant and barely moving since the midnight UTC mark. In fact, it has been trading below the pivotal $66,000 threshold. Ether (ETH) has mirrored this lack of momentum, demonstrating similar performance. The overall picture is one of caution as traders have learned from past events that a truce can quickly unravel. Previous ceasefires in April and early June ended in disarray, leading to market corrections even after initial relief rallies. Are Institutional Investors Showing Interest? While the general sentiment appears cautious, there are signs that institutional investors could be warming up to the crypto space. According to derivatives data, Bitcoin's open interest has risen to $17.4 billion , marking a 7% increase over the past week. The annualized basis for three-month contracts also ticked up slightly to