The risk-off sentiment that hammered crypto all week is turning. Bitcoin is back in the green and the trigger was a sudden de-escalation in the Iran war.
Bitcoin traded at $63,550 on Friday, up 1.6% on the day and 1.4% on the week, per CoinDesk data. Days earlier it had fallen to levels last seen in 2024 – below $60,000 – but has recovered and climbed back to a weekly gain.
A key catalyst came when President Donald Trump said the US was close to a deal with Iran and that he had “ended the war with Iran today”. Markets are reading it as the end of a conflict that has battered prices for more than 100 days. Brent crude fell 2% to around $88.50 a barrel. barrel, while gold and silver prices rose.
The move extended to stocks. South Korea’s Kospi, a gauge of AI stocks, rose 8.4%. MSCI’s Asia Pacific index rose 3.5%, the biggest gain in two months. US stock futures pointed higher and European stocks were set to open up 1.8%.
