The biggest news today is that the U.S. has either already started or is seeking to negotiate with Iran. Multiple sources suggest there might be a one-month ceasefire first, during which at least third-party ships can safely pass through the Strait of Hormuz. Of course, this is partly thanks to Trump’s TACO, allowing both sides to cool down a bit. Rumor has it that the focus of the negotiations is still on getting Iran to abandon nuclear weapons, though Iran has not officially acknowledged any ongoing talks. Due to the negotiation news, WTI crude oil prices dropped below $90. While the possibility of ending the war seems closer, a Reuters/Ipsos poll shows Trump’s approval rating has fallen to 36%, the lowest since his return to the White House. Additionally, 61% of respondents oppose U.S. airstrikes on Iran. Trump’s got a headache now. As long as there’s no new conflict in the near term, even if Iran hasn’t officially announced negotiations, a temporary ceasefire could still be traded in risk markets, which would help ease tensions significantly. Looking at Bitcoin data, the turnover rate isn’t great, but investor sentiment remains pretty stable. People seem to have gotten used to the market fluctuations caused by the war. BTC’s price stability around $70,000 is quite solid, and early investors aren’t showing signs of panic. The key now is to watch how the war develops. If it ends completely, the focus will shift back to tariff issues. But the longer it drags on, the worse it is for risk markets. Bitget VIP—lower fees, crazier perks!