Bitcoin climbed to $78,000 on Friday, reaching its highest level in two months and lifting a wide range of crypto-linked equities. The biggest gains came from digital asset treasury firms, a group that had been under heavy pressure in recent months. The move followed signs of de-escalation in the Iran conflict after U.S. President Donald Trump said on Truth Social that Iran had committed to keeping the Strait of Hormuz open and that peace talks were moving ahead.
That shift in headlines eased fears of a prolonged energy shock. Crude oil dropped 13% to around $80 per barrel. Sentiment was also supported by reports that the U.S. was considering unfreezing $20 billion in Iranian assets, along with Trump’s comments about acquiring Iran’s enriched uranium.
Bitcoin breaks out as broader crypto prices move higher
With geopolitical pressure easing, bitcoin broke above the range that had capped prices since early February. The token was up nearly 5% over the past 24 hours. The advance spread across the broader market, with ether, Solana and XRP each gaining about 4% to 5%.
Matt Mena, senior crypto research strategist at 21Shares, said the reopening of the Strait of Hormuz was the risk-on signal global markets had been waiting for. He said the removal of one of the world’s key geopolitical chokepoints released a fresh wave of liquidity and investor confidence, while oil falling below $85 for the first time in a month could ease inflation concerns.
Treasury firms and altcoin-linked names post the strongest gains
Among listed crypto stocks, treasury companies that hold digital assets on their balance sheets led the rally. Trump-family-backed American Bitcoin (ABTC) jumped more than 21%, while Strategy (MSTR) gained 13%. Strive (ASST) and ProCap (BRR) added roughly 10% to 11% as traders rotated back into higher-beta bitcoin exposure.
Altcoin-linked equities also moved sharply higher. Forum Markets (FRMM), an Ethereum-focused treasury firm that shifted toward tokenization, rose 19%. Solana-related names Solmate (SLMT) and Upexi (UPXI) gained 12% and 11%, respectively.
Other digital asset stocks joined the move. Coinbase (COIN) rose more than 6%, Galaxy (GLXY) added 8%, and Bullish (BLSH) climbed 4.5%. Trading pointed to a clear return of demand for equities with stronger sensitivity to bitcoin and large-cap token prices.