Digital Asset Treasury Firms Lead Crypto Stock Rally as Bitcoin Reaches $78,000

A significant surge in crypto-linked stocks occurred on Friday, driven by a sharp increase in digital asset treasury firms, as progress in resolving the Iran conflict led to a boost in risk assets, propelling bitcoin to a two-month high of $78,000. President Trump stated that Iran has committed to maintaining the Strait of Hormuz's openness, a crucial passage for global energy markets. This development, combined with reports of potential peace talks and the unfreezing of Iranian assets, further enhanced market sentiment. As a result, crude oil prices dropped by 13% to nearly $80 per barrel. The reopening of the Strait of Hormuz has been perceived as a 'risk-on' signal, according to Matt Mena, a senior crypto research strategist. Bitcoin's price climbed to $78,000, breaking out of a two-month range, while major altcoins such as ether, Solana, and XRP posted gains of 4%-5%. The biggest winners among crypto-related equities were crypto treasury firms, which had previously experienced significant losses. Stocks such as American Bitcoin, Strategy, and Strive saw substantial gains, while altcoin-linked equities like Forum Markets, Solmate, and Upexi also rose. Other digital asset-related stocks, including Coinbase, Galaxy, and Bullish, also advanced, with the Nasdaq and S&P 500 reaching new record levels.