Bitcoin has rebounded above $63,000 after a week of intense selling, driven by a sudden de-escalation in the conflict with Iran. President Donald Trump signaled an end to the war, saying he had "ended the war with Iran today," which triggered a broad market rally.
Global markets reacted positively: Brent crude oil dropped 2% to around $88.50 a barrel, while gold and silver prices surged. Asian stock indexes posted their biggest gains in months, with South Korea's Kospi rising 8.4% and MSCI's Asia Pacific index gaining 3.5%. US stock futures also pointed higher.
The crypto market saw a broad bounce. Ether rose 1.3% to $1,673, BNB gained 1.5% to $602, and Solana added 3.0% to $67. XRP and Dogecoin each rose more than 2%. Hyperliquid's HYPE led the majors, up 7.6% on the day, though it remains the weakest over the week. TRON was the only decliner, down 2.0%.
A calmer Middle East reduces pressure on oil prices, which in turn eases inflation fears that had fueled expectations of higher interest rates. This rate fear had been a key factor dragging down crypto and gold earlier in the week.
Attention now turns to SpaceX's IPO on Nasdaq, the largest ever at $75 billion, with pre-listing markets pricing a debut pop of at least 35%.
Bitcoin is up 1.4% over the past seven days, a sharp reversal from touching bear-market lows earlier in the week. The sustainability of this bounce hinges on a formal Iran deal, which Trump said could be signed in Europe this weekend.
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!