De-escalation in US-Iran conflict spurs risk-on rally, lifting Bitcoin 1.6% to $63,550 amid broader market gains.
Bitcoin climbed 1.6% to $63,550 on Friday, recovering from a weekly low below $60,000 as geopolitical tensions eased. The rebound followed President Donald Trump’s announcement of a potential Iran deal, signaling an end to the conflict that had roiled markets for over 100 days.
Earlier in the week, risk-off sentiment pushed Bitcoin to its lowest levels since 2024, but the shift in tone spurred a broad rally. Brent crude fell 2% to $88.50 a barrel, while gold and silver prices surged. Asian stocks, including South Korea’s Kospi, posted their strongest gains in months.
The crypto recovery aligns with a broader market rebound, though analysts caution the bounce depends on a formal Iran agreement. Major cryptocurrencies mirrored Bitcoin’s gains, reversing a week of volatility.