Here is today’s early-morning round-up of the world’s top stories: Gaza peace talks begin in Sharm El Sheikh, Bitcoin tests the $87,000 wall, and fresh shipping incidents keep oil prices elevated.
Israel–Hamas Talks Begin in Sharm El Sheikh
Indirect talks between Israel and Hamas began on Monday afternoon in Sharm El Sheikh, Egypt, under US President Donald Trump’s 20-point Gaza peace plan. Israel’s delegation is led by chief negotiator Ron Dermer, while Hamas is represented by Khalil al-Hayyah. The first phase covers a partial Israeli military withdrawal and a hostage release in exchange for Palestinian prisoners. Egypt’s foreign minister confirmed Monday’s discussions focused on “field conditions and details”, Israel temporarily halted its bombing, and US envoys Steve Witkoff and Jared Kushner are expected to join. Trump warned that “Hamas must move quickly, or else all bets will be off.”
Bitcoin Rejected Again at $87,000
Bitcoin surged to nearly $87,000 on October 5 before falling back to around $85,200 in volatile trading — another rejection at the $87,000 resistance level. More than $109 million in leveraged Bitcoin positions were liquidated, mostly short positions caught in the rally. Signals from the US Commodity Futures Trading Commission on crypto rules added further market noise. Risk appetite remains intact, but the $87,000 ceiling continues to hold.
Hormuz and Red Sea Tensions Push Oil Higher
Two fresh shipping incidents raised pressure in the Gulf: the UKMTO reported that Iran’s IRGC instructed an oil tanker transiting the Strait of Hormuz to turn back “or risk being targeted”, while a separate incident saw explosions near a tanker about 60 nautical miles south of Al Mukha, Yemen — the crew is safe with no environmental impact reported. Yemen’s leader Rashad al-Alimi separately pledged to retake Houthi-held territory. Brent crude rose 0.79% on Monday to $103.06 a barrel, with WTI at $91.57, as the widening Iran–US and Yemen front keeps a risk premium in oil and shipping costs.
Market Snapshot
Bitcoin is holding around $85,200–$85,700, below the $87,000 resistance, while Ethereum trades near $2,707–$2,711. The Fear & Greed index stands at about 70 (Greed), with total crypto market capitalisation near $2.9 trillion. This week brings the Federal Reserve’s September meeting minutes on October 7 and the TOKEN2049 conference in Singapore on October 7–8. Brent crude sits near $103 and WTI near $91.60. UN Secretary-General António Guterres visits Pakistan on October 6–8. No new China–UK or China–USA tariff moves have been announced.