Looks like the chances of a complete ceasefire between the U.S. and Iran have increased a bit. While it’s still uncertain if this time will truly mark the end, judging by the current push from multiple countries, including China, and considering it’s already late May, the blockade of the Strait of Hormuz has lasted nearly three months. The impact on the global economy has forced many nations to step in, so at the very least, the blockade of the Strait of Hormuz should end by late May. This seems to be the most basic agreement. The information we’ve received so far is quite positive. The Iranian ambassador to Pakistan stated that this round of negotiations carries cautious optimism, which is the most positive response Iran has given since the ceasefire began. While this doesn’t guarantee the final outcome, it’s rare to see the U.S. seriously discussing the matter. Even though Trump is still spouting off, it’s clear he’s also retreating into the process of a full ceasefire. Currently, the price of CLUSDT on exchanges is around $94. However, since U.S. stock markets are closed on Monday for Memorial Day, CME is still open, so we can still observe fluctuations in WTI prices. Based on Trump’s comments, it seems like we might get an answer before Monday. For now, let’s just wait and see. Looking at Bitcoin’s data, today once again proves that BTC’s price is heavily influenced by U.S. macro and political factors. During the day, there were people talking about BTC hitting $50K, but the positive news about the U.S. and Iran ceasefire in the evening pulled BTC from a drop into an upward trend. Nothing much else to say—BTC is currently a leading indicator of U.S. market sentiment, especially since U.S. markets won’t open until Monday. Bitget is here, and it’s VIP all the way! Crypto, U.S. stocks, CFDs—global opportunities, all in one place.