The US and Iran have agreed to stop shooting at each other. On June 28, officials from both countries announced a halt to all strikes and kinetic activity, paving the way for peace talks expected to take place in Doha, Qatar, as early as Tuesday. For crypto investors, the implications are less about diplomacy and more about what happens to risk assets when the world’s most volatile oil chokepoint stops being a warzone.

Four days of escalation, then a handshake

The agreement comes after four days of tit-for-tat exchanges. US forces struck Iranian targets, Iran retaliated, and both sides accused each other of violating a 60-day ceasefire framework signed around June 17.

Pakistan mediated an earlier agreement on…