US-Iran War Deal Expected This Week, Can Bitcoin Price Reclaim $90K?

A US-Iran war deal could be announced this week as mediators seek an agreement between Washington and Tehran, according to Al-Araby Al-Jadeed. The breakthrough comes as Bitcoin trades near $82,500, with investors watching whether easing tensions could support a recovery toward $90,000.

Ad

Ad

US-Iran War Deal Reportedly Nears as Negotiations Continue

Al-Araby Al-Jadeed reported that mediators are working to resolve disagreements between Washington and Tehran. Sources familiar with the discussions expect a possible announcement this week, although neither government has confirmed an agreement.

The negotiations focus on preventing renewed military escalation and securing concessions from both countries. However, the United States and Iran remain divided over sanctions, maritime restrictions, and Tehran’s nuclear activities.

Iranian Foreign Minister Abbas Araghchi reiterated that Tehran’s proposal to reopen the Strait of Hormuz within seven days remains available. According to Reuters, Iran wants Washington to lift its blockade, ease oil sanctions, and end regional hostilities.

Washington has demanded restrictions on Iran’s nuclear activities before advancing negotiations. The disagreement concerns which side must make concessions first, leaving the timing of any agreement uncertain.

Ad

Ad

Bitcoin Price Nears $83K as Oil Prices Retreat

Bitcoin traded near $82,500 on Monday as global markets responded to falling oil prices and stronger Chinese economic data. The cryptocurrency recovered modestly after last week’s losses, although it remained below the $90,000 level.

Earlier, Bitcoin faced selling pressure as investors assessed possible U.S. military action against Iran. Meanwhile, Brent crude declined toward $108 per barrel on Monday, while WTI traded near $101.

Lower energy prices can reduce inflation concerns, although supply disruptions around the Strait of Hormuz continue. The upcoming November 3 U.S. midterm elections have also drawn attention to oil prices and diplomatic negotiations.

However, neither government has confirmed that an agreement will be completed before the elections.

Can Bitcoin Price Reclaim $90,000 Ahead of U.S. Midterm Elections?

Bitcoin would need to gain approximately 9.1% from $82,500 to reclaim the $90,000 level. A US-Iran agreement could improve market sentiment, although stronger buying demand would still be needed to sustain a rally.

Crypto analyst Ali Charts recently examined Bitcoin’s performance during the month following previous U.S. midterm elections. His historical Bitcoin election analysis showed gains of 30.91% in 2010 and 6.61% in 2014.

However, Bitcoin declined 47.13% after the 2018 midterms and 18.15% following the 2022 elections. The mixed results provide historical context ahead of November 3 but do not establish a reliable price pattern.

Meanwhile, Strategy executive chairman Michael Saylor believes Bitcoin has entered another bull market. In a recent interview, Saylor predicted a recovery above $100,000, citing institutional adoption and improving market conditions.