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

A sharp surge in crypto-linked stocks occurred on Friday, driven by the recovery of digital asset treasury firms, as the progress towards ending the Iran conflict boosted risk assets and propelled bitcoin to a two-month high of $78,000. US President Donald Trump announced in a social media post that Iran had committed to keeping the Strait of Hormuz open, a crucial passage for global energy markets. Trump also stated that peace talks between the countries were advancing, and reports suggested that the US was considering unfreezing $20 billion in Iranian assets. Additionally, Trump's comments about acquiring Iran's enriched uranium further improved market sentiment. As a result, crude oil prices dropped 13% to nearly $80 per barrel. According to Matt Mena, a senior crypto research strategist, the reopening of the Strait of Hormuz is a significant risk-on signal for global markets, removing a major geopolitical bottleneck and unleashing a wave of liquidity and investor confidence. With oil prices falling below $85 for the first time in a month, concerns about inflation may finally subside. Bitcoin's price increased to $78,000, breaking out of a two-month range, and major altcoins such as ether, Solana, and XRP saw gains of 4%-5%. The surge also affected crypto-related equities, with crypto treasury firms experiencing significant gains. American Bitcoin jumped over 21%, while Strategy and Strive rose by around 13% and 10%-11%, respectively. Similar trends were observed in altcoin-linked equities, with Forum Markets climbing 19% and Solana-linked names like Solmate and Upexi gaining 12%-11%. Other digital asset-related stocks, including Coinbase, Galaxy, and Bullish, also saw increases of 6%, 8%, and 4.5%, respectively. The Nasdaq and S&P 500 indices rose by approximately 1.4% to new record levels.