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

A significant rally in digital asset treasury firms drove the surge in crypto-linked stocks on Friday, as progress towards resolving the Iran conflict led to a boost in risk assets, causing bitcoin to reach a two-month high of $78,000. President Trump stated that Iran has committed to keeping the Strait of Hormuz open, a vital passage for global energy markets, and that peace talks between the countries are progressing. Reports of the US considering unfreezing $20 billion in Iranian assets and acquiring Iran's enriched uranium further lifted sentiment. As a result, crude oil prices dropped 13% to near $80 per barrel. The reopening of the Strait of Hormuz has been seen as a risk-on signal for global markets, according to Matt Mena, a senior crypto research strategist. Bitcoin broke out of its two-month range, climbing to $78,000 and sparking a ripple effect across the broader cryptocurrency market, with major altcoins such as ether, Solana, and XRP posting 4%-5% gains. Crypto-related equities, particularly crypto treasury firms, saw significant gains, with Trump-family-backed American Bitcoin jumping over 21% and Strategy surging 13%. Other digital asset-related stocks, including Coinbase, Galaxy, and Bullish, also advanced, with the Nasdaq and S&P 500 reaching new record levels.