Bitcoin rose to as high as $72,750 on news of a two-week ceasefire between the US and Iran, before falling back to just below $72,000.
The move came alongside a broader rally risk in premarket trading in stocks, with the Invesco QQQ up more than 3.3% and the iShares Expanded Tech Software ETF ( IGV ) flat. Gold also edged higher, rising over 2% to $4,800 a barrel. ounces.
In contrast, the oil markets sold strongly. WTI crude fell to $92 before rising to $96 a barrel. barrel, still down more than 12.5%, while Brent crude is lower by more than 7.5% in the past 24 hours.
Volatility has been compressed across both traditional and crypto markets. The VIX is down 20%, while the Bitcoin Volmex Implied Volatility Index (BVIV) is down more than 6% to 46, suggesting calmer conditions.
Crypto-linked stocks are also on the rise, with Strategi (MSTR), Galaxy Digital (GLXY), Coinbase (COIN) and Circle (CRCL) all posting healthy gains in pre-market trading. Corresponding. 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 US 10-year Treasury yield has fallen 1.5% to 4.2%.
