Bitcoin Surpasses $63k on US‑Iran Peace Hopes
On Friday, Bitcoin increased 0.9% to $63,308.8 as of 10:06 ET (14:06 GMT), pushing the price above the $63,000 threshold. The rally came after U.S. President Donald Trump announced that the United States had reached a peace deal with Iran that could be signed as early as the weekend, prompting optimism in risk‑driven markets. Trump said the deal would end the war with Iran and immediately reopen the Strait of Hormuz. Iranian foreign‑ministry‑quoted media acknowledged progress toward a deal but noted remaining points of contention and that Tehran had not yet made a final decision.
Despite the headline‑making optimism, crypto markets lagged the broader equity rally, with Bitcoin trading close to its annual lows after a 17% decline the previous week. Institutional selling persisted in spot Bitcoin exchange‑traded funds (ETFs). Data from SoSoValue showed spot Bitcoin ETFs experienced a fourth straight week of net outflows, amounting to $401.7 million as of Thursday, a sharp reduction from the $1.72 billion outflow recorded the week before. The outflows were attributed to investors reallocating capital toward what they deemed more fundamentally sound assets, notably artificial‑intelligence stocks and the anticipated SpaceX initial public offering.
SpaceX’s IPO, listed on NASDAQ under the ticker SPCX, raised $75 billion on Thursday, further drawing institutional attention away from crypto assets. The shift was reflected in the modest performance of altcoins: Ether (ETH) rose 1.5% to $1,668.35, XRP increased 2% to $1.1351, Solana and Cardano each gained more than 2%, Binance Coin (BNB) rose 1.5%, Dogecoin advanced 2.7%, and the meme‑coin $TRUMP surged over 18%.
The news of a potential US‑Iran peace agreement also impacted broader commodity markets; oil prices fell, easing concerns about energy‑driven inflation and the prospect of higher interest rates linked to the Iran conflict. However, the article notes that Trump’s past claims of imminent Iran deals have not materialized, and military tensions persisted, with reports of Iranian drone strikes on ships in the Strait of Hormuz early Friday.