Key Takeaways
- Bitcoin declined 0.5% to $70,981 as optimism surrounding the ceasefire agreement dissipates, though weekly gains hold at 6.1%
- Iran’s parliamentary leadership alleges violations of three ceasefire provisions; critical Strait of Hormuz remains shut to shipping
- Brent crude prices recovered 2% to approximately $97 following Wednesday’s historic 10% plunge
- Major altcoins including Ether, Solana, XRP, and Dogecoin experienced losses ranging from 2.2% to 3.4%
- American equity futures slipped 0.1–0.2% during overnight trading, halting the S&P 500’s four-session advance
The brief ceasefire agreement between Washington and Tehran that ignited Wednesday’s market rally is rapidly unraveling, prompting traders to reassess their positions.
Bitcoin experienced a 0.5% decline to $70,981 during Thursday’s trading session. The cryptocurrency maintains a robust 6.1% weekly gain, having climbed from approximately $67,000 to a peak of $72,700 following initial ceasefire announcements promising a two-week pause in hostilities.
The upward momentum has now stalled. Mohammad Bagher Ghalibaf, Iran’s parliamentary speaker, declared that three specific provisions of the ceasefire agreement had been violated, though he declined to identify which clauses were breached. Meanwhile, Israeli military operations in Lebanon have persisted.
The Strait of Hormuz, the critical petroleum shipping corridor whose reopening represented the cornerstone of the agreement, remains functionally shuttered. Despite Iran’s earlier commitment to facilitate coordinated vessel passage, tanker movement through the waterway continues at minimal levels.
Oil markets reacted swiftly to the developments. Brent crude prices rebounded 2% to trade near $97 per barrel after Wednesday’s devastating 10%-plus crash—marking the commodity’s steepest single-session decline in six years.
Cryptocurrency Markets Experience Broad Retreat
Ether decreased 2.6% to $2,180, partially reversing its 5.2% weekly advance. Solana fell 3.1% to $81.96. XRP retreated 3% to $1.33, while Dogecoin declined 3.4% to $0.091. BNB demonstrated relative resilience with a 2.2% drop to $600.
The widespread cryptocurrency selloff reflects broader trends across global risk assets as market participants question the ceasefire’s sustainability.
Equity Futures Retreat Following Wednesday’s Surge
US stock index futures declined during overnight sessions. Futures contracts tracking the S&P 500 and Dow Jones each lost approximately 0.1%. Nasdaq 100 futures decreased 0.2%.
These losses followed Wednesday’s robust performance. The S&P 500 surged 2.5%, the Nasdaq advanced 2.8%, and the Dow soared over 1,300 points—delivering its strongest single-day performance since April 2025.
European futures and the MSCI Asia Pacific Index both trended downward Thursday. The Asian benchmark declined 0.9% after recording its largest single-day gain in twelve months on Wednesday.
Treasury yields stabilized after an earlier rally dissipated amid concerns that escalating oil prices could reignite inflationary pressures.
The Federal Reserve continues to emphasize upside inflation risks even as employment conditions show signs of softening. Japan’s wage growth has reached multi-decade peaks, intensifying speculation about additional interest rate increases from the Bank of Japan.
One market strategist characterized the current environment as “uncoordinated tightening” across major global economies, introducing additional uncertainty beyond existing geopolitical tensions.
Market participants are closely monitoring Thursday’s release of PCE inflation figures and weekly jobless claims data, both scheduled before the opening bell, for indications about the Federal Reserve’s policy trajectory.
