Full details of the deal were not immediately available. The signing will be Friday in Switzerland. It is not clear how quickly the strait might reopen to all traffic. The U.S. previously said it would ease its blockade of Iranian ports as the strait reopens, and would agree to relax sanctions to allow Iran to sell more of its oil and strengthen its battered economy.

U.S. President Donald Trump confirmed a deal had been reached with Iran and said he had authorized an end to the U.S. naval blockade of Iranian ports in the Strait of Hormuz.

“Congratulations to all!” he wrote on social media, without providing details. He added, “Ships of the World, start your engines. Let the oil flow!”

Iranian state media reported Pakistan’s statement after a day in which Israel, sidelined from the negotiations, attacked Beirut’s southern suburbs and posed a threat to the discussions nearing an end.

“Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon,” Pakistan said, adding that mediators this week will facilitate meetings to “lay the foundation for the technical talks.”

The deal largely returns to a status that existed before the war, but with thousands of people dead and Iran wielding a new source of negotiating pressure with its ability to influence transits of the strait. The waterway is crucial to significant shipments of oil, natural gas and related products like fertilizer, and its effective closure rocked the global economy.

Of the stated targets by the U.S. and Israel when they launched the war on Feb. 28 with strikes that killed Iran’s supreme leader, Ayatollah Ali Khamenei, Tehran still has a missile program, support for armed proxies in the region like Hezbollah in Lebanon and a stockpile of highly enriched uranium for its nuclear program.

Khamenei’s son is now supreme leader, though he has not been seen in the public since the war began. His approval was needed for Iran to sign off on the deal.

Iran has wanted a ceasefire deal to include the fighting in Lebanon, where Israel has pushed its invasion deeper than at any point in over a quarter-century as it targets Hezbollah. Tehran also has sought the release of billions of dollars in frozen funds.

The emerging deal had been sharply criticized by Israel’s government, and by critics in Trump’s own Republican Party. Some said it did not improve on the terms of the 2015 Iran nuclear deal that Trump withdrew the U.S. from during his first term and still describes as “bad.”

After the war began, Iran attacked Israel and several Arab Gulf nations with missiles and drones. A ceasefire was reached on April 7. Ten days later, the U.S. military imposed its blockade. A historic face-to-face meeting between Vice President JD Vance and Iranian parliament speaker Mohammad Bagher Qalibaf ended without success.

Throughout negotiations, Trump alternatively threatened to destroy Iranian infrastructure, even its civilization, and praised the relationship with Iran as “more professional” as his administration sought an exit from the war with midterm U.S. elections coming later this year.

Iran’s government, with its own tensions around hardliners as it scrambled to replace several top officials killed in the war, repeatedly expressed wariness of negotiations after rounds of talks last year and early this year ended with U.S. and Israeli attacks.

Tehran has emphasized that it wanted a deal to focus on ending the war, with discussions put off until later on its nuclear program — the issue at the center of it all.

Iran has 440.9 kilograms (972 pounds) of uranium that is enriched up to 60% purity, a short, technical step from weapons-grade levels of 90%, according to the International Atomic Energy Agency.

Iran has long maintained its nuclear program is peaceful and has not publicly committed to giving up the enriched uranium, which is believed to be buried under three nuclear sites that were badly damaged by U.S. strikes last year.

At times, the U.S. had sought the removal of the enriched uranium from Iran as part of a deal. Russia has offered to take it. At other times, Trump said he wanted the uranium destroyed.

Indian benchmark indices witnessed a sharp sell-off on 8 June amid weakness in global markets, escalating geopolitical tensions, and a surge in crude oil prices, raising concerns over inflationary pressures and their potential impact on economic growth. Analysts say Nifty after the recent corrective decline has approached the immediate support area of 23,000-23,200 being the confluence of the April 8 bullish gap area and the 61.8% retracement of the previous pullback (22,182-24,601).

STATE OF THE MARKETS

Gift Nifty (Earlier SGX Nifty) signals a muted start.

Nifty futures on the Gift Nifty traded 4 pts lower at 23,173.

Tech View: A move above and sustained trading beyond 23,125 could trigger a meaningful recovery towards the 23,250–23,300 zone. On the downside, a breach below 23,070 may invalidate the pattern and drag Nifty below the 23,000 mark.

India VIX: India VIX, which is a measure of the fear in the markets, rose 8% to settle at 17.03 levels.

Global Markets Check

• S&P 500 futures were little changed as of 9:01 a.m. Tokyo time
• Hang Seng futures were little changed
• Japan’s Topix rose 0.8%
• Australia’s S&P/ASX 200 fell 1.3%
• Euro Stoxx 50 futures rose 0.2%

Forex News

• The euro was little changed at $1.1528
• The Japanese yen was little changed at 160.19 per dollar
• The offshore yuan was little changed at 6.7856 per dollar
• The Australian dollar was little changed at $0.7038

Oil rises
Oil prices inched up in early trade on Tuesday after Iran and Israel left the door open to a possible resumption of attacks on each other, though they had called a halt to hostilities following an appeal from U.S. President Donald Trump.

Brent crude futures rose 13 cents, or 0.14%, to $94.38 a barrel at 0001 GMT, while U.S. West Texas Intermediate were up 11 cents, ‌or 0.12%, at $91.41 ⁠a ⁠barrel.

Stocks in F&O ban today

1) Amber Enterprises
2) Kaynes

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

FII/DII action
Foreign portfolio investors net sold shares worth Rs 5,555 crore on Monday. DIIs, meanwhile, were net buyers at Rs 5,165 crore.

Rupee
The rupee depreciated 43 paise to settle at 95.61 against the American currency on Monday, pressured by elevated crude oil prices and the strength of the US dollar in the overseas market due to higher risk aversion amid escalating geopolitical tensions.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Bitcoin is sitting at a make-or-break zone, according to market analyst CryptoMichNL, who recently outlined two key price areas that could determine the asset’s next major move. While he believes the broader bullish structure remains intact, he also identified a lower range where investors may find what he considers one of the most attractive buying opportunities of the current cycle if support fails.

Bitcoin’s Most Important Support Zone

The analyst’s outlook centers on the region around $71,000 to $73,000, which he described as the level that must remain intact to prevent a deeper pullback. His accompanying chart highlights this area as a critical support block, positioned above a broader uptrend line that has guided Bitcoin’s recovery following the sharp correction seen earlier in the year.

According to the chart, the current market structure differs significantly from the breakdown that occurred in February. At that time, a previously established resistance level failed to transition into support, resulting in a rapid loss of momentum and a steep decline. This time, however, the analyst argues that the market is attempting to defend a former resistance zone as support, a development that could preserve the larger bullish framework.

The chart also marks a “crucial area to break” near $76,600. Bitcoin recently retreated from that region after encountering resistance, leaving it as the next major hurdle for bulls. Just above it sits a Chicago Mercantile Exchange (CME) gap around $79,000, followed by another resistance cluster near the upper-$80,000 range.

According to the analyst, holding support is only the first step. A successful defense of the $71,000 area would keep the broader structure intact and increase the probability of another advance toward those overhead targets. In that scenario, Bitcoin could regain momentum and position itself for a push toward fresh cycle highs.

Where To Buy If Bitcoin Breaks Down

While the analyst remains constructive on the market, he also mapped out a contingency plan in case support gives way. If Bitcoin loses the $71,000-$73,000 region, his chart points to a significantly lower accumulation zone between roughly $61,000 and $65,000.

That area is notable for several reasons. It aligns with historical support levels established during previous consolidation phases and sits close to the 200-day moving average, a long-term trend indicator closely watched by institutional and retail participants alike. The analyst suggested that a decline into that region would represent an exceptional opportunity to buy in.

For now, the market’s attention remains fixed on two levels. The first is the defense of support near $71,000. The second is a decisive breakout above $76,600. How Bitcoin reacts around those thresholds could determine whether the next chapter brings a renewed surge toward record highs or a final opportunity for buyers to accumulate at significantly lower prices between the $61,000-$65,000 region.

Featured image created with Dall.E, chart from Tradingview.com

Sensex Today | Nifty 50 | Stock Market Live Updates: Ahead of Market: 10 things that will decide stock market action on Thursday

Domestic equities staged a strong rally on Wednesday, supported by a decline in crude oil prices below the $100-per-barrel level and growing optimism over a possible US–India trade deal. Gains were seen across sectors, with banks, auto, pharma, and realty stocks leading the charge. The Nifty rose 251.61 points, or 1.24%, to close at 24,330.95, while the Sensex climbed 940.73 points, or 1.22%, to end the session at 77,958.52.

Ethereum’s long stretch of sideways movement may be closer to resolution than most market participants expect. A higher time frame analysis shared by a TradingView analyst suggests the current structure is the final stage before a larger expansion that sees the Ethereum price rallying by over 100% in 2026.

This prediction rests on decades of price history that, taken together, present a compelling case. Ethereum has done this before, the structure is intact, and a 100% move from the current price level is possible.

A Six-Year Consolidation Hiding A Bullish Structure

Technical analysis of higher timeframe charts, particularly the monthly candlestick timeframe, shows that Ethereum has spent much of the past six years locked in a wide consolidation range, with repeated failures between $4,500 and $4,900. That range has acted as a ceiling across multiple attempts, consistently attracting selling pressure each time price approaches it.

To understand where Ethereum may be going, a technical analyst known as Phil on the TradingView platform noted that traders must first understand where it has been. Not in weeks or months, but across the full sweep of its market history. 

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Two moments stand out as structural inflection points on the monthly chart. The first came in early 2017, when the ETH price broke above the $40 psychological resistance level after repeatedly failing to clear it throughout 2016. That was the ignition point for a rally of about 7,500%.

The second came in mid-2020, when Ethereum, having spent two years consolidating inside a falling wedge pattern, staged another breakout from the lower support trendline of that formation, launching a continuation rally of roughly 1,900%.

Ethereum Price Chart. Source: TradingView

The Breakout Path To A 100% Rally

What followed both breakouts was a prolonged period of sideways price action, and that is precisely where Ethereum finds itself again. ETH has now been consolidating for almost six years below $4,900. The overall bullish trend, however, has not been broken. 

Corrections since 2021 have led to the creation of higher lows, and this is playing out an ascending triangle pattern on the monthly timeframe. Ethereum has already pulled back roughly 25% from its recent highs, easing bearish momentum into the support region of the triangle pattern.

Related Reading

On the other, the $2,000 psychological level, which ETH tested just weeks ago, provides a second significant floor. As it stands, ETH has already bounced approximately 8% on the monthly chart since the $2,000 low was reached and held. The next step, according to the analysis, would be confirmation through higher lows and a push away from support.

If the support holds and bullish confirmation develops, the path forward becomes relatively straightforward from a technical standpoint. The first major target is a return to the $4,500 resistance range. A clean break above that level would finalize the completion of the ascending triangle. According to the analyst, this is expected to play out a 100% rally in 2026.

Featured image created with Dall.E, chart from Tradingview.com