Bitcoin's Price Surge Loses Momentum as Investors Seek Tangible Progress

The recent boost in Bitcoin's price, driven by the U.S.-Iran ceasefire, is starting to lose steam as investors await concrete results. After briefly surpassing $76,000, the cryptocurrency's price has fallen back, repeating the choppy pattern seen on Tuesday. This stall comes after a 10% increase, primarily fueled by the ceasefire news from last week. Despite ongoing optimism and President Donald Trump's suggestion that the conflict is nearing its end, progress in restoring oil flows through the Strait of Hormuz remains limited. Markets are now seeking tangible progress, such as the resumption of energy flows and a reduction in crude premia. Traders should keep a close eye on oil prices, as signs of normalization are likely to emerge in energy markets first. The decline in Bitcoin and Ether's 30-day implied volatility indexes suggests that traders expect significant progress soon. In the meantime, Solana and DOGE may experience increased volatility due to rising demand for leveraged exposure. The FxPro's chief market analyst, Alex Kuptsikevich, notes that Solana has outperformed the market but has failed to consolidate above the $105 level. In traditional markets, the MOVE index has declined to 65%, reversing the war-led spike to 115% in March, which is bullish for risk assets. The stability in the U.S. bond market is helping to ease credit and financial conditions.