A two-week temporary ceasefire agreement between the U.S. and Iran has led to a sharp drop in crude oil prices, while Bitcoin has risen to $72,000

Trump agreed to suspend bombings and attacks on Iran for two weeks. The Iranian Supreme National Security Council issued a statement local time stating that, based on the advice of the Supreme Leader and the approval of the Supreme National Security Council, it accepted the ceasefire proposal put forward by Pakistan. Iran stated that the Iran-U.S. negotiations will begin on the 10th in Islamabad.

According to Bitget market data, due to the easing of tensions in the Middle East, Nasdaq futures rose by 2%; WTI crude oil plummeted by 15%, falling below the $100 mark; spot gold rose over 3.2%, currently reported at $4,811 per ounce. Bitcoin rebounded and broke through $72,000, currently reported at $72,460, with a 24-hour increase of 5.52%. CoinGlass data shows that in the past 12 hours, on-chain oil liquidations amounted to $347.5 million, and on-chain Brent crude oil liquidations amounted to $310.2 million, both primarily liquidating long positions.