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Bitcoin Tops $83K as US-Iran Peace Hopes Lift Markets
Bitcoin climbed above $83,000 on October 20 as reports of a potential US-Iran peace deal lifted investor sentiment. However, conflicting accounts raised doubts about whether Washington and Tehran were close to reaching an agreement. US stocks gained $630 billion in 35 minutes, with Eli Lilly, Oracle, and Morgan Stanley leading gains. Oil prices fell as tensions eased, with West Texas Intermediate crude slipping toward $95.65. The US Dollar Index also fell to around 101.55. Reports indicated Pakistan’s army chief presented a proposal to end the conflict, which Washington reportedly approved and Tehran provisionally accepted. The proposal included transferring interest earned on $6 billion in frozen Iranian funds held in Qatar and a confidential International Atomic Energy Agency visit to Iranian nuclear facilities. However, Qatar’s Foreign Ministry said negotiations were continuing.