Bitcoin (BTC) surged to a peak of $72,750 after news of a two-week U.S.-Iran ceasefire broke, before retracting slightly to just under $72,000. This uptick coincided with an overall risk-on trend in pre-market equity trading, where the Invesco QQQ climbed over 3.3% and the iShares Expanded Tech Software ETF (IGV) demonstrated similar strength. Gold also appreciated by more than 2%, reaching $4,800 per ounce.
Conversely, oil markets experienced a significant downturn. WTI crude prices initially fell to $92 before recovering slightly to $96 per barrel, marking over a 12.5% decrease, while Brent crude declined by more than 7.5% within the last 24 hours.
Market volatility has reduced in both traditional and crypto sectors. The VIX index dropped by 20%, and the Bitcoin Volmex Implied Volatility Index (BVIV) decreased by over 6% to 46, indicating a shift towards more stable conditions.
Crypto-related equities are also making gains, with Strategy (MSTR), Galaxy Digital (GLXY), Coinbase (COIN), and Circle (CRCL) all experiencing healthy advances in pre-market trading. Additionally, AI and HPC data center companies like IREN (IREN) and Cipher Digital (CIFR) saw increases of 7% and 9%, respectively.
In the bond markets, stability was observed as the U.S. 10-year Treasury yield declined by 1.5% to 4.2%.