Bitcoin (BTC) holds above $77,000 at press time on Monday, while mid-tier crypto tokens DeXe (DEXE), Stable (STABLE), and Humanity (H) post double-digit gains over the last 24 hours, likely driven by renewed hopes that the Strait of Hormuz will reopen. 

Hopes of US-Iran deal ease downside pressure across markets

The ongoing peace talks between the US and Iran have renewed hopes that the Strait of Hormuz will reopen, as previously reported by FXStreet. West Texas Intermediate (WTI) – the US oil benchmark – opened with a bearish gap below $92 on Monday, while Japan’s Nikkei is up roughly 3% as tensions in the Middle East ease.

Institutional demand for crypto could revive as falling oil prices cap US inflation, boosting risk appetite…