Cryptocurrency prices rose slightly on Monday amid rising 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 raised the probability of a permanent deal this month to 37%, up from about 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 has attracted approximately $178 million in volume.
The move follows a Truth Social post by President Trump on Saturday in which he said 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 today for talks, according to CNN.
A diplomat briefed on the visit told CNN that the agenda focuses on the Strait of Hormuz and highly enriched uranium. Meanwhile, Iran’s Foreign Ministry described the deal as a first-phase memorandum of understanding, with broader talks lasting between 30 and 60 days, CNBC reported. Pakistan and Qatar are mediating.
The Strait of Hormuz has been largely blocked since the United States and Israel attacked Iran on February 28, although traffic has partially resumed in recent days.
Crude oil fell 5.4% to $91.30 per barrel. Gold rose 1.35% to $4,570 an ounce. The dollar weakened and the US Dollar Index (DXY) fell by around 0.3%.
Trump’s tone remains conditional. “It will just be a big deal for everyone or no deal at all: get back on the front lines and fire, but bigger and stronger than ever,” he wrote on Monday.
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