The United States and Iran have drafted a preliminary agreement to extend a 60-day ceasefire and fully reopen the Strait of Hormuz, according to reporting from The Washington Post. Both parties intend to use the temporary ceasefire as a foundation for negotiating a final agreement to end the conflict.
Under the proposed accord, the Strait of Hormuz will be demined and reopened to maritime traffic within 30 days. The waterway, through which roughly one-third of globally traded oil passes, has been a critical chokepoint for energy markets and cryptocurrency volatility during geopolitical tensions.
A stable shipping corridor through Hormuz typically reduces crude oil price premiums, which historically dampens inflation concerns and supports risk-on sentiment in cryptocurrency markets. The potential reopening could ease energy costs and reduce macroeconomic uncertainty—factors that have influenced Bitcoin and broader digital asset valuations during periods of regional instability.