The White House has denied an Iranian state media report that claimed Washington and Tehran had reached an initial draft memorandum of understanding, adding fresh uncertainty to markets alrea
The White House has denied an Iranian state media report that claimed Washington and Tehran had reached an initial draft memorandum of understanding, adding fresh uncertainty to markets already watching the Strait of Hormuz, oil prices, Bitcoin, and XRP.
A White House rapid response post on X said the report from Iranian state media was “not true” and described the released memorandum as a “complete fabrication.” The statement came after Iranian state television reported alleged draft terms for a U.S.-Iran framework involving troop movements, the Strait of Hormuz, commercial shipping, and a 60-day negotiation period.
The Iranian report claimed the draft would require U.S. military forces to withdraw from the area around Iran, the U.S. Navy to lift its blockade of the Strait of Hormuz, and Iran to restore commercial transit through the waterway to pre-war levels within one month. It also said ship routing would be handled by Iran in cooperation with Oman.
The denial came as U.S. officials continued to describe the talks as active but unfinished. Secretary of State Marco Rubio said negotiations were continuing in Qatar and that language in the initial document was still being discussed. He also said any deal could take several days.
Rubio added that the Strait of Hormuz must be reopened, describing current restrictions as unlawful and unsustainable. The waterway remains central to global energy markets because it carries a large share of seaborne oil shipments.
Oil prices moved lower after the Iranian media report, with U.S. crude falling below $89 per barrel. The later White House denial added uncertainty over whether the decline reflected real progress in negotiations or a market reaction to unverified details.
Risk assets, including crypto, have been sensitive to the U.S.-Iran talks because a durable settlement could ease oil pressure, lower inflation concerns, and reduce demand for defensive positioning.
Bitcoin traded near $74,945, down 2.88% intraday, after briefly breaking below the $75,000 level. The move placed BTC near its recent seven-day low of about $74,316 and confirmed renewed pressure after a failed recovery attempt.
Market data shows a weaker short-term structure. Bitcoin recently pulled back from the $82,000 to $84,000 zone and has formed lower highs since that rejection. The $78,500 to $80,000 range now acts as the first resistance area.
A move back above $80,000 would be needed to reduce bearish pressure and reopen a possible test of $82,000 to $84,000. Without that recovery, traders are watching $76,000, $74,000, and $72,000 as key downside levels. A deeper decline could bring the $70,000 area back into focus.
Source: Cryptoquant
Funding rates on Binance have remained positive even as Bitcoin weakened. That suggests many traders are still positioned long through leverage. At the same time, taker buy volume has declined, showing weaker aggressive spot demand.
This creates a fragile setup because leverage remains present while organic buying has faded. If BTC loses nearby support, crowded long positions may add pressure through forced exits.
XRP traded near $1.332 after a short-term downtrend marked by lower highs and lower lows. The token has remained under pressure, but analysts are watching for a possible rebound after a TD Sequential buy signal appeared on the four-hour chart.
Crypto analyst Ali Martinez said XRP could rebound toward $1.35 before any broader trend continuation. The token recently bounced from the $1.325 support area, where buyers have defended the lower range.
Source: X
Immediate resistance sits near $1.336. A clean four-hour close above that level could send XRP toward $1.346. If buyers clear $1.346, the next upside levels are $1.358 and $1.370.
On-chain sentiment data also shows XRP’s 30-day MVRV has fallen to its lowest level since December 2020. This means many short-term traders are holding losses, with average active traders down sharply over the past month.
Deeply negative MVRV readings do not confirm a reversal, but they often appear when selling pressure has already been heavy. For XRP, a recovery depends on whether buyers can hold $1.325 and reclaim the $1.35 area.
