Key Takeaways
- BTC declined 0.5% to reach $70,981 while maintaining a weekly gain of 6.1% as ceasefire optimism wanes
- Mohammad Bagher Ghalibaf, Iran’s parliamentary speaker, alleges violations of three ceasefire provisions; critical Strait of Hormuz remains blocked
- Brent crude recovered 2% to approximately $97 following Wednesday’s historic 10%+ plunge, the steepest decline in six years
- Major altcoins including Ether, Solana, XRP, and Dogecoin posted losses ranging from 2.2% to 3.4% during Thursday trading
- Equity index futures declined 0.1–0.2% in overnight trading, halting the S&P 500’s four-session advance
The temporary truce between Washington and Tehran that ignited a market rally on Wednesday appears increasingly fragile, prompting traders to reassess their positions.
Bitcoin declined 0.5% to settle at $70,981 during Thursday’s session. The digital asset has still posted a weekly increase of 6.1%, having risen from approximately $67,000 to peak at $72,700 following confirmation of the two-week ceasefire agreement between the US and Iran.
The upward momentum has encountered resistance. Mohammad Bagher Ghalibaf, Iran’s parliamentary speaker, announced that three provisions of the ceasefire agreement have been violated, declining to specify which clauses were breached. Military operations by Israel have persisted in Lebanese territory.
The Strait of Hormuz, the critical waterway for global oil transport whose reopening represented the core element of the agreement, continues to operate at severely restricted capacity. Vessel movement through the strait remains minimal despite Tehran’s previous commitment to facilitate organized passage.
Oil markets demonstrated swift reaction. Brent crude climbed 2% to approximately $97 per barrel, recovering from Wednesday’s dramatic 10%+ collapse, marking its most severe single-session decline in six years.
Digital Assets Retreat from Recent Highs
Ether decreased 2.6% to $2,180, partially reversing its 5.2% weekly advance. Solana declined 3.1% to $81.96. XRP shed 3% to reach $1.33, while Dogecoin retreated 3.4% to $0.091. BNB recorded a 2.2% decline to $600, demonstrating relative strength compared to peers.
The widespread cryptocurrency selloff reflects broader trends across international risk assets as market participants evaluate the ceasefire’s staying power.
Equity Futures Retreat Following Wednesday’s Surge
US equity index futures declined during overnight trading. Contracts tracking the S&P 500 and the Dow Jones Industrial Average each fell approximately 0.1%. Nasdaq 100 futures registered a 0.2% decrease.
Wednesday’s regular trading session delivered robust performance. The S&P 500 advanced 2.5%, the Nasdaq climbed 2.8%, and the Dow surged more than 1,300 points in its strongest single-day performance since April 2025.
European futures alongside the MSCI Asia Pacific Index signaled downward movement for Thursday. The Asian benchmark retreated 0.9% after posting its largest single-day gain in twelve months on Wednesday.
Treasury yields held stable after an earlier decline reversed on worries that elevated oil prices might reignite inflationary pressures.
The Federal Reserve continues to highlight upside inflation risks while employment conditions show signs of softening. Japanese wage growth has reached levels unseen in decades, building expectations for additional rate increases from the Bank of Japan.
One market analyst characterized the environment as “uncoordinated tightening” among major economies, compounding uncertainty already present from geopolitical tensions.
Market participants await Thursday’s PCE inflation figures and weekly jobless claims data, both scheduled for release before the opening bell, seeking additional guidance on the Federal Reserve’s policy trajectory.
