The momentum behind Bitcoin's price surge, fueled by the US-Iran ceasefire, is losing steam as investors await concrete results. Despite briefly surpassing $76,000, the cryptocurrency's price has fallen back into a choppy pattern, following a 10% increase driven by the ceasefire news. The stall in progress comes as President Donald Trump suggests the conflict is nearing its end, yet negotiations to restore oil flows through the Strait of Hormuz remain limited. Market makers are now seeking tangible signs of progress, such as restored energy flows and clearer disinflation, rather than just a ceasefire extension.
Traders are advised to keep an eye on oil prices, as signs of normalization are likely to emerge in energy markets first. The decline in Bitcoin and Ether's implied volatility indexes suggests traders expect significant progress soon.
Meanwhile, Solana and Dogecoin may experience increased volatility due to rising demand for leveraged exposure. In traditional markets, the MOVE index has declined, indicating a bullish outlook for risk assets as stability in the US bond market eases credit and financial conditions.