Israel agrees to negotiations with Lebanon, US stocks rally, and Bitcoin briefly spikes to 73K

Israeli Prime Minister Benjamin Netanyahu said that Israel has agreed to hold direct talks with Lebanon. Boosted by this news, the S&P 500 index turned higher late in the trading session, while oil prices pulled back from that day’s high. Earlier this morning, Bitcoin briefly surged to 73K. The Fear and Greed Index has risen to the neutral range of 46, but the altcoin season index remains sluggish, showing that overall market sentiment has not fully recovered yet.

Israel agrees to negotiate with Lebanon; US stocks reverse late in the day

Netanyahu agreed to hold direct talks with Lebanon, focusing on disarming Hezbollah, which is allied with Iran. Trump has asked him to reduce airstrikes to ensure the success of negotiations with Iran.

On Tuesday evening, Trump agreed to pause attacks on Iran. However, the premise of this “bilateral” ceasefire agreement is that Iran agrees to reopen the Strait of Hormuz. In a statement, Iran’s foreign minister said that as long as all attacks stop, Tehran will agree to reopen the waterway within the next two weeks. Media reports say that Israel has also agreed to the ceasefire.

But since the ceasefire agreement was announced, overall traffic conditions in the strait have still not improved. On Wednesday, Trump said that until Tehran fully complies with the “real deal,” U.S. forces will continue to be deployed in Iran and surrounding areas. He also warned that any breach would trigger unprecedented military action.

(The Strait of Hormuz remains blocked; Iran demands that Iran’s transit fees be paid in Bitcoin)

Boosted by news that Israel has agreed to negotiate with Lebanon, the S&P 500 index rose late in the session, and oil prices pulled back from the day’s high.

Bitcoin surged to 73K this morning

In the past 24 hours, the cryptocurrency market rose 1.07% to reach $2.44 trillion, driven mainly by optimistic ceasefire sentiment and tracking gains in U.S. stock markets. The Fear and Greed Index has risen to the neutral range of 46, but the altcoin season index remains sluggish, showing that overall market sentiment has not fully recovered yet.

Bitcoin briefly surged to 73K earlier this morning. In a report, Glassnode compares the spot price with key on-chain valuation models, finding that the market structure is still in a bear-market range. The real market average is currently at $78,000; when Bitcoin rebounds into that range, it may face strong selling pressure from recent buyers. Only after that selling pressure is digested will Bitcoin have a chance to rise significantly.

(Glassnode: Is Bitcoin’s rebound just a dead cat bounce? Where are the key pressure levels?)

This article, “Israel agrees to negotiate with Lebanon, U.S. stocks turn higher, and Bitcoin briefly surges to 73K,” was first published on Chain News ABMedia.