Brent crude prices dropped 11% to approximately $85.87 per barrel after President Trump announced the suspension of US strikes against Iran, establishing a 60-day ceasefire. This geopolitical easing erased weeks of risk premiums that had kept oil prices elevated since escalations began in May 2026. The crypto market felt the ripple effects: Bitcoin reached $72,000 in early April 2026 during initial ceasefire reactions before stabilizing around $65,000 during the July pause in hostilities. The US sanctioned Iran central bank-linked crypto wallets in July 2026, prompting Tether to freeze $131 million in USDT, demonstrating the growing use of crypto rails as a sanctions enforcement tool.
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