The risk-averse mood that has hit crypto all week is reversing. Bitcoin is back in the green and the trigger was a sudden de-escalation of the war in Iran.
Bitcoin traded at $63,550 on Friday, up 1.6% for the day and 1.4% for the week, according to CoinDesk data. Days earlier, it had fallen to levels last seen in 2024 – below $60,000 – but recovered and returned to a weekly gain.
A key catalyst came when President Donald Trump declared that the United States was close to reaching a deal with Iran and that he had “ended the war with Iran today.” The markets see this as the end of a conflict which shook prices for more than 100 days. Brent crude fell 2% to around $88.50 a barrel, while gold and silver prices jumped.
The movement has spread to stocks. South Korea’s Kospi, a gauge of AI stocks, rose 8.4%. The MSCI Asia-Pacific index gained 3.5%, its biggest rise in two months. U.S. stock futures were pointing higher and European stocks were expected to open 1.8% higher.
