Reports that Israel and Lebanon’s Hezbollah agreed to a ceasefire beginning Friday improved risk appetite, lifting Bitcoin above $63,000 while WTI crude fell to $75.33 and spot gold rose to $4,164.
Bitcoin climbed back above $63,000 after reports of an Israel-Hezbollah ceasefire improved market sentiment and revived expectations that stalled U.S.-Iran diplomatic talks could resume before the end of June. At the same time, WTI crude fell by $1 to as low as $75.33 a barrel and spot gold rose $17 to $4,164 an ounce after a U.S. senior official said Israel and Lebanon’s Hezbollah had agreed to a ceasefire due to begin at 4 p.m. local time on Friday, or 21:00 Beijing time. The cross-asset moves suggested traders were recalibrating positions as immediate regional geopolitical risk appeared to ease.