- Bitcoin jumped above $77,000 as investors rotated back into risk assets after Iran said the Strait of Hormuz was fully open during the ceasefire.
- Stocks surged and oil fell sharply after the announcement eased fears over disruption to one of the world’s most important energy chokepoints.
Bitcoin pushed above $77,000 on Friday, joining a broader market rally after Iran said the Strait of Hormuz was “completely open” for commercial shipping during the current ceasefire period.
The move was part of a wider risk-on snapback across global markets. Iran’s Foreign Minister Abbas Araqchi said in a post on X that all commercial vessels could pass through the strait for the remainder of the truce, though they must follow a coordinated route set by Iranian authorities. That mattered immediately because roughly a fifth of global oil flows through Hormuz, and fears of prolonged disruption had been weighing on markets for weeks.
Oil slides as markets price out a worst-case shock
The clearest reaction came in energy. Reuters reported that Brent crude fell about 9% to around $90 a barrel, while U.S. crude dropped roughly 10% to near $81.5. That reversal removed a large part of the immediate inflation and supply shock investors had been worried about.
Equities responded fast. Europe’s STOXX 600 rose 1.3%, while S&P futures were up 0.9% before the U.S. open. Later in the session, Wall Street’s main indexes climbed further, with the Dow up more than 550 points, the S&P 500 gaining 0.78% and the Nasdaq adding 1.05%.
Bitcoin joins the broader risk rebound
Bitcoin moved with that same shift in sentiment. The logic was fairly straightforward. If oil pressure eases and geopolitical risk looks less acute, traders become more willing to move back into higher-beta assets, and crypto usually sits near the front of that trade. That does not mean the conflict is resolved. Reuters noted the ceasefire is tied to a 10-day truce and the wider diplomatic situation remains unsettled.
Still, markets were not waiting for perfect certainty. For now, the reopening of Hormuz was enough to revive appetite for risk, lifting stocks to fresh highs and pushing Bitcoin back into breakout territory.
