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- Bitcoin jumped above $77,000 as investors turned back to risk assets after Iran said the Strait of Hormuz was fully open during the ceasefire.
- Stocks rose and oil prices fell sharply after the announcement eased concerns about the disruption of one of the world’s most important energy hotspots.
Bitcoin rose above $77,000 on Friday, joining a broader market rally after Iran said the Strait of Hormuz was “fully open” to commercial shipping during the current ceasefire period.
The move was part of a broader return to risk-taking across global markets. Iranian Foreign Minister Abbas Araghchi He said In a post on X, he said all commercial ships could pass through the strait for the remainder of the truce, although they must follow a coordinated route determined by Iranian authorities. This became immediately important because nearly a fifth of global oil flows through Hormuz, and fears of a prolonged outage have been weighing on markets for weeks.
Oil slides as markets price in for worst-case shock
The most obvious reaction came in energy. Reuters I mentioned Brent crude fell by about 9% to about $90 per barrel, while US crude fell by about 10% to close to $81.5. This reversal removed much of the direct inflation and supply shock that investors had been worried about.
Stocks responded quickly. The European STOXX 600 index rose 1.3%, while S&P futures rose 0.9% before the US open. Later in the session, Wall Street’s major indexes rose further, with the Dow Jones index rising more than 550 points, the S&P 500 index rising 0.78%, and the Nasdaq adding 1.05%.
Bitcoin joins broader risk recovery
Bitcoin I was moved by the same shift in emotions. The logic was fairly clear. If oil pressure eases and geopolitical risks appear less severe, traders become more willing to move back into assets with higher beta, and cryptocurrencies typically fall near the front of that trade. This does not mean that the conflict has been resolved. Reuters noted that the ceasefire is linked to a 10-day truce and that the broader diplomatic situation remains unstable.
However, the markets were not waiting for complete certainty. For now, the reopening of Hormuz has been enough to revive risk appetite, lifting stocks to new highs and pushing Bitcoin into breakout territory once again.
