Bitcoin Turns Higher as Iran De-Escalation Lifts Risk Assets

Bitcoin rebounded on Friday as markets responded to signs of de-escalation in the Iran conflict. The cryptocurrency traded at $63,550, up 1.6% on the day and 1.4% over the week, according to CoinDesk data, after earlier slipping below $60,000 to levels last seen in 2024.

The move mattered because the same geopolitical stress that pressured crypto had also been feeding broader risk aversion. President Donald Trump said the U.S. was close to a deal with Iran and stated that he had ended the war with Iran, prompting markets to price in a calmer backdrop after more than 100 days of volatility.

Traditional markets also reacted. Brent crude fell 2% to about $88.50 a barrel, while gold and silver rose. Equity markets strengthened as well, with South Korea's Kospi up 8.4%, MSCI's Asia Pacific index gaining 3.5% and U.S. stock futures pointing higher.

For crypto investors, the relief came through lower pressure from oil-linked inflation concerns and interest-rate fears. CoinDesk noted that a calmer Middle East could reduce pressure on oil prices, easing one of the macro forces that had weighed on both crypto and gold during the week.

The rebound extended beyond bitcoin. Ether rose 1.3% to $1,673, BNB gained 1.5% to $602, solana added 3% to $67, and XRP and dogecoin each advanced more than 2%. Hyperliquid's HYPE led major tokens with a 7.6% daily gain, while TRON was the only decliner, down 2%.

Whether the recovery lasts may depend on whether a formal Iran deal is completed. Trump said an agreement could be signed in Europe over the weekend, leaving traders focused on confirmation after a sharp reversal from the week's earlier selloff.