Bitcoin held steady around $75,000 on Friday as investors digested reports that the U.S.-Iran conflict could end as early as this weekend.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n According to reports<\/a>, U.S. President Donald Trump reiterated that the U.S. is close to coming to an agreement with Iran, potentially bringing a permanent end to the war between the two nations.<\/p>\n In a statement at the White House, Trump noted that the U.S. and Iran could be meeting in Pakistan\u2019s capital, Islamabad, this weekend. While an extension of a two-week ceasefire remains on the table, Trump suggested that it may not be needed as Iran is ready to sign a deal.<\/p>\n \u201cWe\u2019re going to see what happens. But I think we\u2019re very close to making a deal with Iran,\u201d Trump said.<\/p>\n <\/p>\n As part of its preparation for the summit, Trump had asked Israel to stop its attacks on Lebanon as a 10-day ceasefire was reportedly announced to allow negotiations to facilitate a permanent peace and security between the two nations.<\/p>\n The U.S. and Iran war has largely been driven by political tensions in the U.S. and has drawn significant criticism from the public ahead of the mid-term elections taking place soon.<\/p>\n The war in the Middle East that began on Feb. 28 has triggered the most severe oil price shock in history, fueling fears that a prolonged conflict could push the world into a global recession.\u00a0<\/p>\n Following Trump\u2019s renewed optimism today, crude oil prices fell in Asian trading hours and remained below $100. Notably, Brent crude oil dropped 1.1% to $98 while WTI crude oil fell 1.3% to $93 over the past day. The drop came despite the Strait of Hormuz remaining closed, as optimism surrounding the peace talks has already started rolling through the markets.<\/p>\n Asian tech stocks such as Japan\u2019s Nikkei 225 and Hong Kong\u2019s Hang Seng were down 2% and 1% respectively after hitting a record high on Thursday.<\/p>\n Risky assets such as cryptocurrencies were seen printing green at the time of writing. Bitcoin, the bellwether asset, climbed a little over $75,000 after paring off some profits earlier today.<\/p>\n The emergence of more concrete signs of peace between the U.S. and Iran has pushed the crypto fear and greed index into neutral territory, a sign that investor concerns surrounding geopolitical instability have finally faded.<\/p>\n If the U.S. reaches a formal agreement with Iran this weekend, Bitcoin could swiftly rally to $80,000, the next psychological resistance level, and then potentially aim towards its path to $90,000 by Sunday.<\/p>\n A look at the weekly Bitcoin liquidation heatmap shows a large cluster of short positions concentrated just above $76,000. Hence, a breakout above this level could pull the price much higher as a short squeeze triggers a rapid upward move.<\/p>\n <\/p>\n\n
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