Bitcoin rose as high as $72,750 following the announcement of a two-week ceasefire between the United States and Iran, before falling back to just below $72,000.
The move came with broader risk of a rally in premarket stock trading, with the Invesco QQQ gaining more than 3.3% and the iShares Expanded Tech Software ETF (IGV) showing similar strength. Gold also gained, rising more than 2% to $4,800 an ounce.
On the other hand, the oil markets fell sharply. WTI crude fell to $92 before rebounding to $96 a barrel, still down more than 12.5%, while Brent crude is down more than 7.5% in the past 24 hours.
Volatility has reduced in both traditional and crypto markets. The VIX is down 20%, while the Volmex Bitcoin Implied Volatility Index (BVIV) fell more than 6% to 46, indicating calmer conditions.
Crypto-related stocks are also advancing, with Strategy (MSTR), Galaxy Digital (GLXY), Coinbase (COIN), and Circle (CRCL) all posting healthy gains in pre-market trading. In the same way. AI and HPC data center companies such as IREN (IREN) and Cipher Digital (CIFR) gained 7% and 9%, respectively.
Bond markets stabilized, with the 10-year U.S. Treasury yield falling from 1.5% to 4.2%.
