Iran-US Peace Memorandum Likely to Impact Bitcoin Dynamics

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 53 minutes ago

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Memorandum Progress: Axios reports that US and Iranian negotiators are nearing a memorandum that would end the current war and reopen the Strait of Hormuz, initiating 30 to 60 days of talks on nuclear limits and sanctions relief, which could have profound implications for global energy markets.
War Premium Easing: The potential closure of the Strait of Hormuz had pushed Brent crude prices above $100, and the anticipated peace agreement is expected to eliminate this 'war premium', potentially leading to a short-term pullback in Bitcoin and other safe-haven assets.
Structural Changes: As Iran gradually reintegrates into the international financial system, its leadership will become acutely aware of the possibility of future sanctions, driving a diversification of reserves that may increase demand for Bitcoin and other digital assets, despite a potential short-term decrease in crypto demand.
Acceleration of Multipolar Trends: The peace agreement is likely to facilitate non-dollar oil settlement experiments between Iran and countries like China and Russia, pushing the global financial system towards a more fragmented structure, which will increase long-term demand for Bitcoin and its infrastructure.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	69626.051	71957.825	74564.221	76895.995	79502.391	81834.165	84440.561
Fibonacci	71957.825	73844.206	75009.614	76895.995	78782.376	79947.784	81834.165

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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