Brent crude fell below $80 as the US-Iran deal to reopen the Strait of Hormuz shifted oil supply expectations. Bitcoin rose to $65,800 on easing inflation

A peace agreement that reopens the Strait of Hormuz pulled the geopolitical premium out of oil and put back into risk assets.

The US and Iran reached an interim deal to reopen the Strait of Hormuz, easing oil supply fears. Bitcoin rallied 2% to $65,800 on the news.