Bitcoin remained above $70,000 after its sharp move higher on ceasefire headlines, keeping traders focused on whether the asset can hold near the top of its recent range while broader markets turn cautious again.
Ceasefire violations and slow Hormuz traffic revive market tension
Iranian Parliament Speaker Mohammad Bagher Ghalibaf said three provisions of the ceasefire had been violated, though he did not give details. At the same time, Israeli operations in Lebanon continued. Hopes for a quick normalization in the Strait of Hormuz also faded. Iran said passage would be “coordinated,” but oil tanker traffic was still moving slowly.
Brent crude rose 2% to nearly $97 a barrel. That rebound followed a violent move in the prior session, when oil posted its steepest one-day fall in six years, dropping more than 10%. The brief relief rally across markets lost momentum fast, and attention shifted back to whether the ceasefire could last through the week.
Major cryptocurrencies pull back as risk appetite weakens
Volatility in Bitcoin spilled over into the rest of the crypto market. Ether fell 2.6% to $2,180, though it was still up 5.2% on the week after leading last week’s post-ceasefire surge. Solana’s SOL dropped 3.1% to $81.96, XRP lost 3% to $1.33, Dogecoin slipped 3.4% to $0.091, and BNB traded near $600, down 2.2% on the day.
The price action showed that the earlier rebound in risk assets did not turn into a broad, steady follow-through. Even tokens that had outperformed during the initial reaction to the ceasefire were pulled back as uncertainty returned.
Stocks and rates reflect renewed inflation and policy concerns
Pressure was visible outside crypto as well. The MSCI index for Asia-Pacific shares fell 0.9%. After the initial ceasefire enthusiasm, only about one in three stocks posted gains, while roughly two-thirds moved lower. Futures for the S&P 500 and European markets pointed to a 0.2% decline, signaling that the four-day run in global equities could be ending.
US Treasury yields gave back recent gains as investors weighed the risk that higher oil prices could feed inflation. The Federal Reserve has continued to point to upside inflation risks alongside a slowing labor market, keeping the case for higher rates for longer in view. In Japan, wage growth has reached multi-year highs, adding to expectations of more rate hikes. With major economies tightening at different speeds and geopolitical risks still unresolved, the rate outlook remains unsettled.
Bitcoin tests the upper edge of its multi-month range
For Bitcoin, the move from $67,000 to $72,700 after the ceasefire news, followed by consolidation above $70,000, marked its strongest momentum in six weeks. Since the end of February, Bitcoin has mostly traded between $65,000 and $73,000.
That leaves the cryptocurrency pressing against the upper boundary of a range that has defined trading for months. Compared with the quieter sideways action seen at lower levels, the recent shift is clear, but the market is still dealing with a mix of geopolitical stress, oil volatility, and uncertain interest-rate expectations.