Analysis: Potential US-Iran Ceasefire Agreement Boosts Risk Assets, but BTC Continues Weak Decoupling Trend

Odaily Planet Daily News Despite reports that US-Iran negotiations have reached a draft memorandum for a 60-day ceasefire and nuclear program discussions, the cryptocurrency market remains under pressure, with Bitcoin falling below $73,000, down approximately 2.7% in 24 hours. The US stock and bond markets received a boost, with the Nasdaq rising 0.6% and WTI crude oil prices falling below $90 per barrel.

At the macro level, the first inflation report under new Fed Chair Warsh showed that the US core Personal Consumption Expenditures (PCE) index rose 3.8% year-over-year in April, the highest level in nearly three years and up from 2.8% in February. Olu Sonola, Head of US Economics at Fitch Ratings, stated that inflationary pressures may persist in the coming months, and the Fed cannot easily ignore the supply shocks driving potential inflation.

Market analysis indicates that in the short term, positive macro factors have significantly boosted stock markets and oil prices, but the crypto market lacks similar direct stimuli, leaving Bitcoin and other digital assets facing sell-off pressure. (CoinDesk)