Following signs of de-escalation in Iran, global market risk appetite has rebounded. After a week of significant volatility, Bitcoin has regained above $63,000, and major crypto assets have generally rallied.
Bitcoin returns to its weekly upward range.
According to CoinDesk data, Bitcoin rose to $63,550 on Friday, up 1.6% for the day and 1.4% over the past seven days. Several days ago, Bitcoin briefly fell below $60,000 before gradually recovering.
Major tokens are rising in tandem. Ethereum increased 1.3% to $1,673, BNB rose 1.5% to $602, and Solana gained 3.0% to $67. XRP and Dogecoin both rose over 2%, HYPE surged 7.6% today, while TRON declined 2.0%.
Trump's statement helps revive market sentiment.
Trump stated that the U.S. is close to reaching an agreement with Iran and declared, "The war with Iran is over today." Markets interpreted this remark as a signal of de-escalation in the Middle East, prompting a rebound in risk assets that had been under sustained pressure.
As risk-off sentiment subsides, Brent crude oil fell 2% to around $88.50 per barrel. The market generally believes that the decline in oil prices helps alleviate inflationary and upward interest rate pressures, one of the key factors weighing on crypto assets this week.
Asian stock markets rose in tandem.
The rebound in risk appetite has also spilled over into equity markets. The South Korean Kospi index rose 8.4%, and the MSCI Asia Pacific index gained 3.5%, marking its largest single-day increase in two months. U.S. stock futures climbed, and European markets also showed gains ahead of open.
Whether this rally can continue still depends on whether the Iran agreement materializes. Trump said the agreement may be signed in Europe this weekend. If negotiations progress further, short-term market volatility may ease.
Additional information: The article also notes that the market is now focusing on SpaceX’s upcoming listing on Nasdaq on Friday. The company previously raised $75 billion, and market expectations are for its stock to open significantly higher on its first day of trading.