LIVE: Oil continues crashing as Bitcoin holds on for dear life post-UN meeting

Oil prices are crashing again Friday after reports that U.S. and Iranian negotiators in New York are discussing a phased agreement aimed at ending the standoff in the Persian Gulf.

Brent crude futures for November delivery fell 1% to $93.66 a barrel, while West Texas Intermediate futures dropped 0.68% to $105.86.

The proposal being discussed would see Iran allow ships to move through the Strait of Hormuz again, while the U.S. would end its naval blockade.

The two sides tried this before when they agreed to essentially the same arrangement under a June 17 memorandum of understanding, but as Cryptopolitan reported previously, that fell apart quickly and fighting resumed.

Iranian President Masoud Pezeshkian also said on the sidelines of the UN General Assembly that Tehran wants Washington to return to that June agreement before the U.S. midterm elections.

Crypto, meanwhile, is hanging on. Bitcoin is trading at $84,422, up 0.14%, with its funding rate at 0.0035%. Coinglass showed $74.12 billion alongside an 11% decline, while Bitcoin’s market value stood at $1.70 trillion, another dashboard figure came in at $57.31 billion, shorter-term changes showed +0.18% and -0.02%, and liquidations tied to BTC stood at $111.27 million.

Ether is at $2,682.10, down 0.05%, with a 0.0040% funding rate. Its accompanying figures were $48.62 billion, -10.12%, $328.70 billion and $34.55 billion, with changes of -0.05% and -0.54% and $69.64 million in liquidations.

Solana is outperforming the majors at $117.39, up 1.98%, with funding at 0.0025%. Its other readings came in at $9.32 billion, -11.04%, $69.40 billion and $6.97 billion, alongside moves of +0.08% and +0.40% and $12.54 million in liquidations.

XRP is up 2.01% at $1.5316, with its funding rate at 0.0089%. Coinglass listed additional readings of $6.70 billion, -24.84%, $97.23 billion and $3.66 billion, followed by -0.91% and +2.40%, while liquidations stood at $16.41 million.

Open interest in the crypto market is 0.55% higher, at $151.79 billion, while total liquidations have fallen by 38.73%, to $338.34 million. The average RSI is in neutral position at 52.27, and Altcoin Season Index is neutral at 60.

The Fear & Greed Index stands at 72, still in the greed territory, despite the fall of Bitcoin dominance by 0.32%, to 58.89%. Bitcoin supply on exchanges fell by 3,630 BTC, with total exchange supply now standing at 2.47 million BTC.

Meanwhile, gold futures are up by 0.33%, at $4,287.81, while the U.S. Dollar Index is lower by 0.03% at 100.990.