Global markets are increasingly focusing on inflation and interest rates as US-Iran negotiations progress. While discussions include reopening the Strait of Hormuz and resuming nuclear talks, significant disagreements remain. Meanwhile, expectations of rate hikes are resurfacing, with US interest rate futures pricing in a potential Federal Reserve hike by October. The European Central Bank is also considering a June rate hike. This shift challenges the assumption that central banks will always stabilize markets, as high inflation and debt levels limit their intervention capabilities. In the crypto market, Bitcoin may see short-term support from easing geopolitical tensions, but further rate hikes could pressure overvalued assets.