Trump's Iran Peace Signal Sparks Bitcoin Rally: Is the Crypto Bloodbath Over?

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.