Bitcoin's Price Momentum Fades as Investors Await Tangible Progress

The recent surge in Bitcoin's price, driven by the US-Iran ceasefire, is losing momentum as markets seek concrete results. After briefly surpassing $76,000, the cryptocurrency's price has fallen back, repeating the choppy pattern from Tuesday. This stall follows a 10% increase, primarily fueled by the ceasefire news from the previous week. However, 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. QCP Capital notes that a ceasefire extension alone is insufficient, and markets require tangible progress, such as restored energy flows and clearer disinflation. Traders should monitor oil prices, as signs of normalization are likely to appear in energy markets first. The decline in Bitcoin and ether's 30-day implied volatility indexes suggests traders expect significant progress soon. Meanwhile, Solana and DOGE may experience increased volatility due to rising demand for leveraged exposure. Alex Kuptsikevich, FxPro's chief market analyst, states that Solana has outperformed the market but failed to consolidate above the $105 level, which is necessary for a bullish victory. The MOVE index, measuring US Treasury note volatility, has declined to 65%, reversing the war-led spike to 115% in March, which is bullish for risk assets. The US bond market's stability helps ease credit and financial conditions.