At the opening of the Wall Street stock exchange on Wednesday, the price of Bitcoin (BTC) fell below the $75,000 mark. News of a peace agreement between the US and Iran did not have a positive impact on the cryptocurrency market. According to TradingView data, the BTC/USD pair fell by 1.2% during the day, recording its lowest weekly levels. This is reported by Cointelegraph.com reports .
Following news of the signing of a memorandum of understanding aimed at ending the conflict between the US and Iran, stock markets rose to new record highs. Conversely, commodity markets, particularly oil prices, fell sharply. US WTI crude oil dropped to $87.77 per barrel, marking its lowest level since April 22.
According to reports, the agreement includes a 60-day negotiation period and also envisions the reopening of the Strait of Hormuz, which is of strategic importance for oil transportation. If a final deal is reached, it is expected to be approved in the form of a mandatory UN Security Council resolution.
Despite the positive environment for risk assets, Bitcoin did not join the upward movement. According to the trend of recent weeks, the cryptocurrency continues to move in the opposite direction to US stocks. Analysts note that Bitcoin is currently hesitant to choose between stocks or commodity markets.
The situation in the exchange order book shows that there is a high probability of liquidity being swept due to an increase in positions on both sides of the price. Investors are currently waiting cautiously for the market's next direction.
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