U.S.-Iran Peace Deal Fails to Impress Crypto Markets

DATA & FIGURES

$17.4 billion in open interest (OI) for BTC derivatives, up 7% from a week ago, and a three-month annualized basis of 3.0%, up from 2.8%. Funding rates remained subdued, ranging from 0% to roughly -4% annualized across multiple venues.

THE SCENARIO

The geopolitical context of the U.S.-Iran peace deal has led to a rally in global markets, but the crypto market is being cautious due to the uncertainty surrounding the agreement.

DIRECT QUOTE

"There's a reason we built Venice." — Erik Voorhees, Founder of Venice and ShapeShift

BBN INSIGHT

The crypto market's muted response to the U.S.-Iran peace deal is a sign of caution, given the uncertainty surrounding the agreement.

MARKET REACTION

The market reaction to the news has been muted, with the CoinDesk 20 Index (CD20) little changed since midnight UTC, but 2.4% higher over 24 hours.