Bitcoin climbs back into the green as Trump signals an end to the Iran war
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- Bitcoin rose above $63,550 on Friday, up 1.6% on the day and 1.4% over the week, after a week of risk‑off selling.
- Trump said the US was close to a deal with Iran and claimed he had "ended the war with Iran today," prompting markets to view it as a de‑escalation.
- Brent crude fell 2% to about $88.50 a barrel, while gold and silver surged, reflecting the calmer Middle East easing inflation pressures.
- Asian stock indexes posted gains, with South Korea's Kospi up 8.4% and MSCI's Asia Pacific index up 3.5%, its biggest rise in two months.
- Other cryptocurrencies also climbed: Ether up 1.3% to $1,673, BNB up 1.5% to $602, Solana up 3.0% to $67, XRP and Dogecoin each up >2%, while TRON fell 2.0%.
- SpaceX is set to list on Nasdaq after raising $75 billion, with pre‑listing markets pricing a debut pop of at least 35%.
- Tokenized assets hit a record $28.9 billion in May, their tenth consecutive monthly all‑time high, and the stablecoin market cap extended to $320 billion.
Why it matters: Investors and crypto holders gain from the price bounce, while oil producers lose from the price drop; the rally hinges on a formal Iran deal, making the market’s optimism contingent on diplomatic progress. The broader market rally also lifts Asian equities and precious metals, while the pending SpaceX IPO could add volatility to tech stocks.
