Bitcoin's Price Surge Loses Momentum as Investors Await Tangible Progress

The recent boost in Bitcoin's price, driven by the US-Iran ceasefire, is starting to lose steam as investors look for concrete results. The cryptocurrency's price briefly surpassed $76,000 before falling back, repeating the choppy pattern seen on Tuesday. This stall comes after a 10% increase, primarily fueled by the ceasefire news from last 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. Markets are now seeking substantial progress, such as the resumption of energy flows and a reduction in crude premia, rather than just a ceasefire extension. Traders should keep a close eye on oil prices, as signs of normalization are likely to emerge in energy markets first. The decline in Bitcoin and Ether's 30-day implied volatility indexes suggests that traders expect significant progress soon. Meanwhile, Solana and DOGE may experience increased volatility due to rising demand for leveraged exposure. In traditional markets, the decline in the MOVE index, which measures US Treasury note volatility, is bullish for risk assets, as stability in the US bond market helps ease credit and financial conditions.