US-Iran peace talks gain fresh momentum

• Reports said the US and Iran are moving closer to a new peace memorandum despite Iran publicly denying a deal.
• Markets are watching the talks because they could affect oil prices and cryptocurrency markets.
• Analysts said any agreement could improve investor confidence if tensions continue to ease.

Reports said the United States and Iran are making progress towards a new memorandum of understanding, although Tehran has denied that an agreement has been reached.

The proposed deal would extend the ceasefire and begin talks on Iran's nuclear programme, sanctions and shipping through the Strait of Hormuz.

Iran has continued to reject claims that a final agreement has been reached, creating uncertainty over the negotiations.

Traders are closely watching the talks because lower geopolitical tensions could support broader risk assets, including cryptocurrencies.

Analysts said a lasting agreement could reduce pressure on oil markets, although Bitcoin (CRYPTO:BTC) is still being driven mainly by interest rates and investment flows.

Previous ceasefire announcements have briefly lifted cryptocurrency prices before market optimism faded as negotiations stalled.

Investors are expected to monitor further statements from Washington and Tehran for signs that formal negotiations will continue.

At the time of reporting, Bitcoin price was $63,730.00.