The U.S.-Iran peace deal reached over the weekend provided the stimulus many markets had been waiting for.

Oil fell more than 4% on news the Strait of Hormuz would reopen, copper jumped. MSCI’s broadest index of Asia-Pacific shares rallied 3% and Japan’s Nikkei 225 hit a record high.

Crypto markets, however, posted muted gains after the announcement, with the CoinDesk 20 Index (CD20) little changed since midnight UTC. The measure, however, is 2.4% higher over 24 hours.

Bitcoin $BTC$65,930.26 held below $66,000, barely moving since midnight after adding 3.4% over the weekend. Ether’s ($ETH) performance mirrored its larger peer. The biggest gains came in the smaller altcoins, with the CoinDesk 80 Index adding 1.5% since midnight.

The…