Bitcoin, Crypto Stocks Surge on US-Iran Ceasefire
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Bitcoin climbed to as high as $72,750 following the US-Iran ceasefire announcement before easing back to just below $72,000.
- US tech equities rallied in pre-market trading, with the Invesco QQQ gaining more than 3.3% and the iShares Expanded Tech Software ETF (IGV) posting similar strength.
- Oil prices sold off sharply — WTI crude dropped to $92 before rebounding to $96 per barrel, still down more than 12.5%, with Brent crude lower by over 7.5% in 24 hours.
- Crypto-linked equities advanced across the board, with Strategy (MSTR), Galaxy Digital (GLXY), Coinbase (COIN), and Circle (CRCL) all showing healthy pre-market gains.
- AI and HPC data center firms IREN and Cipher Digital (CIFR) gained 7% and 9% respectively in pre-market trading, outperforming broader crypto-adjacent names.
- Volatility compressed across both markets — the VIX fell 20% and the Bitcoin Volmex Implied Volatility Index (BVIV) dropped more than 6% to 46.
- Gold rose over 2% to $4,800 per ounce, while the US 10-year Treasury yield fell 1.5% to 4.2%, signaling reduced macro stress.
Why it matters: The ceasefire triggered a textbook risk-on rotation: oil's 12.5% WTI drop and the 20% VIX decline confirm a sharp volatility crush, while the 3.3% QQQ surge and Bitcoin's run above $72,750 show traders pricing in reduced near-term macro stress. Crypto miners and data-center plays like IREN (+7%) and CIFR (+9%) led the move, but the two-week duration of the ceasefire leaves a short shelf life on this relief rally.
