Bitcoin has recovered above $64,000 after dropping to $62,200, gaining over $2,000 from its local low. According to a report from Axios, the US, Iran, and Oman are closing in on an interim agreement to reopen the Strait of Hormuz, which President Trump wants announced today. The deal would route inbound ship traffic through the Iran-controlled northern lane and outbound traffic through Omani southern waters, with no fees or tolls for 60 days. Previously, Iran had sought up to $2 million per ship, potentially paid in bitcoin. However, a sustained breakout would likely require a permanent deal to be reached.
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