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

A significant rally in digital asset treasury firms drove the surge in crypto-linked stocks on Friday, as progress towards resolving the Iran conflict boosted risk assets and pushed bitcoin to a two-month high of $78,000. US President Donald Trump announced that Iran had committed to keeping the Strait of Hormuz open, a crucial passage for global energy markets, and that peace talks between the countries were progressing. The US is also considering unfreezing $20 billion in Iranian assets and acquiring Iran's enriched uranium, further improving market sentiment. As a result, crude oil prices plummeted 13% to near $80 per barrel. 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. Bitcoin broke out of its two-month range, climbing to $78,000 and sparking a broader cryptocurrency price increase, with major altcoins such as ether, Solana, and XRP posting 4%-5% gains. Crypto-related equities, particularly crypto treasury firms, experienced significant gains, with Trump-family-backed American Bitcoin jumping over 21% and Strategy surging 13%. Similar moves were seen 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 advanced, with the Nasdaq and S&P 500 reaching new record levels.