US and Iran are reportedly discussing a phased deal to reopen the Strait of Hormuz and end the US blockade.
Oil prices and US 10-year yields are dropping sharply on the news.
This is bullish for crypto as geopolitical tensions ease.
Brent crude is surging back above $106 after the Houthis claimed they attacked a military site in the Middle East.
Because of this, U.S. 10-year yields are pumping again.
This is putting more pressure on crypto and stocks.
The moment this Middle East conflict finally starts to calm down, I expect yields to drop significantly, together with the oil price.
That could create a major boost for the stock market and especially for crypto.