Bitcoin surged past $72,000 following news of a two-week ceasefire between the U.S. and Iran. The cryptocurrency saw broader risk-on sentiment drive equities higher, with the Invesco QQQ and iShares Expanded Tech Software ETF both posting significant gains. Gold also climbed over 2% to $4,800 per ounce.
In stark contrast, oil markets experienced a sharp sell-off. WTI crude dropped significantly before a partial rebound, remaining down more than 12.5%. Brent crude also saw substantial losses. Volatility compressed across both traditional and crypto markets, with the VIX down 20% and the Bitcoin Volmex Implied Volatility Index falling over 6%.
Crypto-linked equities, including MicroStrategy (MSTR), Galaxy Digital (GLXY), Coinbase (COIN), and Circle (CRCL), showed healthy pre-market gains. AI and HPC data center firms like IREN (IREN) and Cipher Digital (CIFR) also advanced. Bond markets stabilized, with the U.S. 10-year Treasury yield falling to 4.2%.