Key facts
- The U.S. has paused bombing operations against Iran for a second consecutive night.
- President Trump ordered the military to halt strikes, ending a streak of 13 daily strikes.
- The pause follows advice to President Trump to halt bombing amid ongoing diplomatic efforts.
- Iran has stated it will halt its attacks if the U.S. maintains its pause on bombing operations.
- An Omani delegation met with Iranian officials in Tehran for talks on reopening the Strait of Hormuz.
- Bitcoin is trading flat around $64,300, with odds of a Fed rate hike this year at 72%.
The United States has paused its bombing operations against Iran for a second consecutive night, a move prompted by ongoing diplomatic efforts and advice given to President Trump to halt the strikes. This pause ended a streak of 13 daily strikes.
Iran has indicated that it will cease its own attacks if the U.S. maintains its pause on bombing operations. This reciprocal stance suggests a potential de-escalation in the conflict, contingent on continued diplomatic engagement. An Omani delegation met with Iranian officials in Tehran for talks aimed at reopening the Strait of Hormuz.
Despite the halt in strikes, tensions remain high, exacerbated by strikes between Saudi Arabia and Iran-backed Houthis, and disruptions in the Bab al-Mandab Strait. President Trump has signaled a willingness to negotiate with Iran, though Iran remains hesitant.
In cryptocurrency markets, Bitcoin is trading flat around $64,300 amid uncertainty surrounding the U.S.-Iran conflict. The conflict has driven energy prices higher, sparking inflation concerns and increasing the odds of a Federal Reserve rate hike this year to 72%.