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

A significant rally in crypto-linked stocks occurred on Friday, driven by a rebound in digital asset treasury firms, as progress towards ending the Iran conflict led to increased risk appetite, causing bitcoin to reach a two-month high of $78,000. U.S. President Donald Trump stated that Iran has committed to keeping the Strait of Hormuz open, a crucial artery for global energy markets, and that peace talks between the countries are progressing. Reports of the U.S. considering unfreezing $20 billion in Iranian assets and Trump's comments on acquiring Iran's enriched uranium further boosted sentiment. As a result, crude oil prices dropped 13% to near $80 per barrel. According to Matt Mena, senior crypto research strategist at Digital 21Shares, the reopening of the Strait of Hormuz is a risk-on signal that the global markets have been waiting for, and it has uncorked a massive wave of liquidity and investor confidence. Bitcoin climbed to $78,000, breaking out from a two-month range, and major altcoins such as ether, Solana, and XRP posted 4%-5% gains. The biggest winners among crypto-related equities were crypto treasury firms, which had been heavily battered in recent months. Trump-family-backed American Bitcoin jumped over 21%, while Strategy surged 13%. Other digital asset-related stocks, including Coinbase, Galaxy, and Bullish, also advanced, with the Nasdaq and S&P 500 reaching new record levels.