Crypto prices were slightly higher on Monday amid rising odds in prediction markets for a near-term US-Iran peace deal as Iranian negotiators arrived in Doha for talks.
Bitcoin rose 1.6% in 24 hours to $77,500, ether rose 1.4% and the broader CoinDesk 20 (CD20) added 1.56%.
Traders at Polymarket pushed the probability of a permanent deal this month to 37%, up from around 14% on Friday. The odds of an agreement are 46% at the beginning of June and 72% at the end of July. The market has drawn about $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 completion.” Iran’s chief negotiator, Mohammad Bagher Ghalibaf, Foreign Minister Abbas Araghchi and Central Bank Governor Abdolnaser Hemmati arrived in Doha earlier today for talks, according to CNN.
A diplomat briefed on the visit told CNN that the agenda is focused on the Strait of Hormuz and highly enriched uranium. Meanwhile, Iran’s Foreign Ministry has described the deal as a memorandum of understanding in a first phase with broader talks over 30 to 60 days, CNBC reported. Pakistan and Qatar mediate.
The Strait of Hormuz has been largely blocked since the US and Israel struck Iran on February 28, although traffic has partially resumed in recent days.
Crude fell 5.4% to $91.30 a barrel. barrel. Gold rose 1.35% to $4,570 an ounce. The dollar weakened and the US Dollar Index (DXY) fell about 0.3%.
Trump’s tone remains tentative. “It will only be a good deal for all or no deal at all – Back to the battle front and shooting, but bigger and stronger than ever before,” he wrote on Monday.
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