US–Iran deal signing collapses as Israel strikes Lebanon — crypto slides

The formal US–Iran memorandum signing, scheduled for the Bürgenstock resort in Switzerland, was postponed indefinitely after Israel launched renewed airstrikes across southern Lebanon overnight — prompting Iran to refuse to deploy its delegation.

Markets, which had rallied on the mid-month ceasefire framework, gave back ground as the deal stalled. Bitcoin traded around $62,200, down roughly 3% on the day, while Ethereum slipped to about $1,687, XRP to $1.12, and Solana to $68.28.

The deal had been contingent on a halt to military operations in Lebanon — a condition Israel explicitly refused, insisting its campaign against Hezbollah continue. For crypto, the collapse removed the disinflationary channel investors had been counting on: an Iran deal was supposed to keep oil prices lower, cool inflation, and give the Fed room to ease.

With that path blocked and the Fed already in a hawkish posture, the weekend left risk assets back on the defensive.