US President Announces Sunday Signing of Iran Deal Despite Tehran's Conflicting Statements
The US President has announced that a peace agreement with Iran will be signed on Sunday, enabling the reopening of the Strait of Hormuz, despite Iranian officials expressing uncertainty about the proposed timeframe.
President Donald Trump of the United States announced that an agreement aimed at ending hostilities between Washington and Tehran is set to be signed this Sunday, even though Iranian authorities have previously expressed skepticism regarding the proposed schedule.
In a Saturday post on Truth Social, Trump declared, "The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL."
Meanwhile, Pakistan, serving as the intermediary in negotiations between Washington and Tehran, has also indicated that a deal could materialize within the next 24 hours.
The anticipated agreement, which takes the form of a memorandum of understanding, is projected to prolong the current ceasefire between the United States and Iran for an additional 60 days while simultaneously reopening access to the Strait of Hormuz.
The maritime blockade has restricted 20% of global oil and liquefied natural gas supplies, resulting in elevated worldwide asset valuations and a confidence crisis that has weighed heavily on cryptocurrency markets over recent months.
Pakistani Prime Minister Shehbaz Sharif stated on X Saturday, "We are closer to a peace deal than ever before." He continued, "With finalisation likely expected in the next 24 hours, Pakistan is preparing for the electronic signing of the peace deal immediately after, followed by technical level talks next week."
Tehran has yet to provide confirmation regarding the Sunday signing ceremony.
Esmaeil Baghaei, spokesperson for Iran's Foreign Ministry, informed state-run media outlets earlier that the memorandum would not receive signatures on Sunday, though it might occur "in the coming days."
Baghaei stated, "We will have to wait and see about the exact date of the signing of the memorandum of understanding, although it will not be tomorrow."
Analysts say peace deal will benefit crypto
Cryptocurrency analyst Michaël van de Poppe suggested that a peace agreement between the United States and Iran would likely trigger an upward movement in Bitcoin prices, accompanied by favorable exchange-traded fund flows.
Exchange-traded funds tracking spot Bitcoin registered approximately $315.84 million in net outflows during the week ending Friday, representing the fifth straight week of withdrawals from the Bitcoin-focused crypto funds.
Van de Poppe further explained, "Liquidity will pour back into risk-on assets as liquidity will seek for an opportunity and after SpaceX IPO was done, most likely this will go towards crypto."
James Butterfill, head of research at CoinShares, informed Cointelegraph on Wednesday that the recent exodus from digital asset investment products has been predominantly influenced by geopolitical factors, with uncertainty surrounding the Iran conflict creating pressure on interest rate projections.
At the time of writing, Bitcoin was changing hands at $64,491, representing a 1.5% increase over the preceding 24 hours.