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

A rally in digital asset treasury firms led the surge in crypto-linked stocks on Friday, driven by progress in ending the Iran conflict, which boosted risk assets and sent bitcoin to a two-month high of $78,000. US President Donald Trump announced in a Truth Social post 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. The news, combined with reports of the US considering unfreezing $20 billion in Iranian assets and Trump's remarks on acquiring Iran's enriched uranium, further lifted sentiment. As a result, crude oil prices dropped 13% to near $80 per barrel, calming fears of a prolonged energy shock. The reopening of the Strait of Hormuz has been seen as a risk-on signal for global markets, according to Matt Mena, senior crypto research strategist at digital 21shares, who noted that it has uncorked a massive wave of liquidity and investor confidence. With oil prices falling below $85 for the first time in a month, inflation fears may finally subside. Bitcoin climbed to $78,000, breaking out of a two-month range, and major altcoins such as ether, Solana, and XRP posted 4%-5% gains. Crypto-related equities, particularly crypto treasury firms, which had been heavily battered in recent months, 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.