BTC reclaims $70,000 on ceasefire report

A down day in crypto became slightly less so in the minutes since U.S. stocks closed for the session.

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According to Israeli Channel 12, a one-month ceasefire could soon be announced as part of a package being negotiated by White House envoys Steve Witkoff and Jared Kushner.

Other terms of the deal reportedly include a dismantling of Iran’s existing nuclear capabilities and that country’s vow to “never seek” nuclear weapons.

The news was felt most immediately in the oil market, with Brent Crude dropping from $104 to below $100 in a few minutes.

Trading down throughout the day and sitting near $69,000, bitcoin BTC$70,031.98 quickly popped back to $70,000. U.S. stock index futures also posted small gains on the news.