Bitcoin rose approximately 3% to $63,450.18 at 17:44 ET (21:44 GMT) after President Donald Trump announced that a settlement with Iran had been reached and that the final document could be signed within the next few days, possibly over the weekend in Europe. Trump also stated that the Strait of Hormuz would reopen immediately upon signing and that the U.S. naval blockade of Iranian ports would be lifted thereafter. The announcement reversed earlier market anxiety caused by threats of additional strikes and a potential takeover of Kharg Island, leading traders to breathe a sigh of relief.
Following the presidential comments, broader cryptocurrency markets rallied. Ether increased 3.5% to $1,678.24, XRP climbed 4.1%, Solana surged 6.3%, Cardano jumped 6.5%, and Binance Coin (BNB) added 3.1%. Among meme tokens, Dogecoin rose 4.8% and the token $TRUMP advanced 7.2%.
In parallel, institutional investors continued to pull cash from crypto spot exchange‑traded funds. Data from SoSoValue showed outflows of $213.85 million on Wednesday, up from $77.4 million on Tuesday, contributing to more than $5 billion of net outflows over the preceding three weeks. The outflows were attributed to investors freeing capital ahead of SpaceX’s highly anticipated initial public offering.
SpaceX confirmed its IPO pricing at $135 per share, projecting a gross raise of $75 billion and targeting a post‑IPO valuation of $1.75 trillion, which would make it the largest IPO in history. The company’s filing indicated that the offering is scheduled for Friday.
Other risk assets also responded positively; U.S. equities rose on the news, while oil prices fell. The combined effect of the geopolitical de‑escalation and the anticipation of the SpaceX IPO lifted risk sentiment across multiple asset classes.