Key Takeaways:
Bitcoin fell 5% to $62,236 as a signed U.S.-Iran peace accord erased initial cryptocurrency market gains.The digital currency slide dragged the broader crypto market cap down by 4.3% to $2.24 trillion.Easing Strait of Hormuz tensions point to ongoing downward price pressure for crude oil and gas.The reversal stands in stark contrast to global equity indices, some of which soared after the U.S. and Iranian presidents signed a memorandum of understanding. In Japan, the Nikkei closed with a 1.65% gain, while South Korea’s Kospi reached a milestone by topping the 9,000-point threshold. The story was the same on Wall Street at the time of writing: the Nasdaq was up 1.71%, the S&P 500 rose 1.22% and the Dow Jones Industrial Average grew 0.5%.
