Crypto markets staged a recovery after a week dominated by risk-off sentiment, with Bitcoin rising to $63,550. The asset was up 1.6% on the day and 1.4% over the past seven days, according to CoinDesk data. Earlier in the week, Bitcoin had slipped below $60,000, falling to levels last seen in 2024, before reversing course and moving back into positive weekly territory.
The immediate catalyst was a sharp shift in geopolitical expectations. President Donald Trump said the US was close to a deal with Iran and claimed he had “ended the war with Iran today.” Markets interpreted the remarks as a sign that a conflict that had disrupted global pricing for more than 100 days could be winding down, prompting a rebound in risk appetite across asset classes.
That change in sentiment was reflected beyond crypto. Brent crude fell 2% to around $88.50 a barrel, a move seen as easing inflation pressure and reducing concerns that interest rates might need to stay higher for longer. Equities also advanced, with South Korea’s Kospi climbing 8.4%, MSCI’s Asia Pacific index gaining 3.5% for its strongest rise in two months, US stock futures pointing higher, and European shares expected to open up 1.8%.
Broad Rebound Across Major Tokens
The recovery extended across large-cap digital assets. Ether added 1.3% to $1,673, BNB rose 1.5% to $602, and Solana gained 3.0% to $67. XRP and Dogecoin both advanced more than 2%. Among major tokens, Hyperliquid’s HYPE led daily gains with a 7.6% rise, though it still remained one of the weaker performers on a weekly basis. TRON stood out as the only decliner, slipping 2.0%.
Markets Now Watch for a Signed Deal
Whether the rebound can hold may depend on developments around the proposed Iran agreement. Trump said a deal could be signed in Europe this weekend, leaving traders highly sensitive to further geopolitical headlines. Investors are also watching another major market event: SpaceX is set to list on Nasdaq on Friday after raising $75 billion, the largest IPO on record, with pre-listing markets implying a debut jump of at least 35%. For now, Bitcoin’s recovery reflects a fast repricing of geopolitical risk, but its durability may hinge on whether diplomatic progress actually materializes.