Bitcoin Surges to $82K on US-Iran Draft MOU Progress

Bitcoin has rebounded sharply to $82,000, a three-month high, after a volatile week driven by shifting US-Iran diplomacy. The token first spiked above $82,000 on May 23 following reports of a 14-point MOU and ceasefire hopes, then oscillated between $78,000 spikes and a drop below $75,000 on May 27 amid deal doubts and $1.2 billion in ETF outflows. On May 28, a reported draft memorandum outlining a 30-day negotiation window and Strait of Hormuz reopening reignited risk-on flows, pushing BTC higher while oil prices fell. Liquidation cascades totaling over $66 million underscored the headline-driven volatility throughout the period.