Global markets saw a sudden surge on Friday as shares of several companies tied to digital assets rallied and Bitcoin soared to $78,000 for the first time in two months, following diplomatic breakthroughs between Iran and the United States.
Hormuz Strait reopens, easing energy fears
US President Donald Trump announced on Truth Social that Iran has kept the Strait of Hormuz fully open and that peace talks between the two countries are moving in a positive direction. The Strait is a critical artery for global energy trade. News that the US is considering unfreezing about $20 billion in Iranian assets, alongside reports Trump is open to accepting Iran’s enriched uranium, further fueled optimism in financial markets.
As tensions cooled in the energy sector, crude oil prices dropped sharply—down 13% to $80 per barrel. The reduction in geopolitical risk encouraged investors to seek out more risk-heavy assets, boosting risk appetite across markets.
“The reopening of the Strait of Hormuz has delivered a long-awaited signal of revived risk appetite in global markets,” noted Matt Mena, senior strategist at the digital asset firm 21shares, adding that Iran’s move triggered a rapid increase in investor confidence and market liquidity.
Bitcoin and altcoins rally sharply
With geopolitical tensions easing, Bitcoin surged past $78,000, reaching its highest price since early February. The top cryptocurrency shot up about 5% in the past 24 hours. According to CryptoAppsy data, this jump also lifted altcoins: ether (ETH), Solana (SOL), and XRP all rose by 4–5% during the day.
The positive sentiment spilled over into the stock prices of crypto-focused firms, many of which had faced sharp declines in recent weeks. Companies with significant digital asset holdings posted the strongest gains.
Crypto company stocks see gains over 20%
American Bitcoin Corporation (ABTC), a company known for its ties to the Trump family, soared over 21%. Shares of Strategy (MSTR) gained 13%. Strive (ASST) and ProCap (BRR) saw increases between 10% and 11%, with analysts observing that investors were shifting into high-beta Bitcoin vehicles.
Forum Markets (FRMM), which focuses on Ethereum and recently ramped up its tokenization initiatives, saw its stock price climb 19%. In the Solana ecosystem, Solmate (SLMT) and Upexi (UPXI) recorded gains of 12% and 11%, respectively.
The crypto rally extended to other digital asset firms as well. Shares in Coinbase (COIN) were up more than 6%, while Galaxy (GLXY) appreciated by 8% and Bullish (BLSH) posted a 4.5% gain.
Meanwhile, technology-heavy US stock indices Nasdaq and S&P 500 each rose 1.4%, reaching all-time record highs. The day’s events signaled a marked rise in global risk appetite among investors.
