Quick Read – XRP, Bitcoin, and Ethereum each fell roughly 3% to 4% as fresh Israeli strikes in southern Lebanon threatened the U.S.-Iran peace deal signed this week. – The drop has erased the gains cryptocurrencies made on the optimism around the peace deal. – Traders are…
lling the ceasefire news instead of trusting it because the April truce collapsed on the same Lebanon strikes, and the Fed’s focus on inflation is keeping pressure on risk assets. – After months of war headlines weighing on crypto, the U.S. and Iran finally signed the peace deal everyone had been waiting for this week. Crypto prices popped at first, but the moves have reversed, with XRP (CRYPTO:XRP), Bitcoin (CRYPTO:BTC), and Ethereum (CRYPTO:ETH) down 3-4%
The trouble started in Lebanon, where fresh Israeli strikes have hit the one front Iran insists the deal has to cover, and that has put the whole agreement in doubt just days after it was signed. XRP trades near $1.13, Bitcoin is below $63,000, and Ethereum is below $1,700. So, is a quick wobble the market shrugs off, or the start of the same unraveling that broke the last ceasefire back in April?
Why the Lebanon Strikes Put the Iran Deal at Risk To understand why a few airstrikes can shake a signed peace deal, you have to know what Iran agreed to. When the U.S. and Iran reached their deal last weekend, the terms included an immediate and permanent end to fighting on every front, and Iran made a point of naming Lebanon specifically. For Tehran, stopping the fighting there was part of the deal, and not a detail to be traded away later.