bitcoin It rose as high as $72,750 following news of a two-week ceasefire between the United States and Iran, before falling back to just under $72,000.
The move came alongside a broader risk of a rally in pre-market trading for stocks, with the Invesco QQQ gaining more than 3.3% and the iShares Expanded Tech Software ETF (IGV) posting similar strength. Gold also rose, rising more than 2% to $4,800 an ounce.
On the contrary, oil markets suffered heavy selling. WTI crude oil fell to $92 before rebounding to $96 per barrel, still more than 12.5%, while Brent crude oil is down more than 7.5% in the last 24 hours.
Volatility has compressed in both traditional and crypto markets. The VIX is down 20%, while Bitcoin’s Volmex Implied Volatility Index (BVIV) has fallen more than 6% to 46, pointing to calmer conditions.
Cryptocurrency-linked stocks are also advancing, with Strategy (MSTR), Galaxy Digital (GLXY), Coinbase (COIN), and Circle (CRCL) showing healthy gains in pre-market trading. Similarly. AI and HPC data center companies like IREN (IREN) and Cipher Digital (CIFR) have gained 7% and 9%, respectively.
Bond markets have stabilized and the 10-year US Treasury yield fell between 1.5% and 4.2%.
