He further said that we are close to it but it's not done yet

"Well, I hope by the beginning of the weekend, I mean, the end of the weekend," Biden said after being asked when a ceasefire might start

"My national security adviser tells me that we're close. We're close, it's not done yet. And my hope is that by next Monday we'll have a ceasefire," Biden added

Earlier on Monday, according to CNN, Hamas backed off some key demands in the negotiations for a hostage deal and paused the fighting in Gaza following Israeli accusations that its position was "delusional"

It brought the negotiating parties closer to an initial agreement that could halt the fighting and see a group of Israeli hostages released, according to two sources familiar with the discussions

Following the meeting held in Paris between the US, Egyptian, and Israeli intelligence chiefs and the Qatari prime minister, a senior Biden administration official said, "The major obstacles have been resolved in terms of Hamas insisting on a full withdrawal of Israeli forces and an end to the war"

"Hamas' requirements for the number of Palestinians (prisoners that) would have to be freed have declined," the official added

Meanwhile, a diplomatic source familiar with the discussions said that Hamas softened its position ahead of an agreement on the first phase of a deal, according to CNN

However, it is expected that more challenging hurdles will emerge later when complex issues like Hamas releasing male IDF hostages and an end to the war are discussed