Bitcoin rebounds as Iran tensions ease
Bitcoin rose above $63,000 on Friday after easing geopolitical tensions in the Middle East helped reverse a week of risk-off selling across global markets.
The cryptocurrency traded at $63,550, up 1.6% on the day and 1.4% over the past week after briefly falling below $60,000 earlier in the week.
“We had ended the war with Iran today,”
Said US President Donald Trump, as markets interpreted his comments as a sign that a deal with Iran could be close.
The prospect of de-escalation pushed Brent crude down 2% to around $88.50 a barrel and fuelled gains across global equity markets, including an 8.4% rise in South Korea’s Kospi index.
Lower oil prices eased concerns about inflation and interest rates, helping support risk assets such as cryptocurrencies that had come under pressure during the conflict.
The recovery extended across digital assets, with Ether rising 1.3% to $1,673, BNB gaining 1.5% to $602, Solana adding 3.0% to $67 and Hyperliquid’s HYPE token jumping 7.6%.
Investors are now watching whether an Iran agreement is finalised this weekend while also monitoring the Nasdaq debut of SpaceX following its record $75 billion initial public offering.
At the time of reporting, Bitcoin price was $62,972.89.
