I saw the news from the past 24 hours - as the Middle East situation stabilizes, there has been a positive reaction in the market. Iran announced that the Strait of Hormuz will remain fully open, and with this news, Bitcoin suddenly jumped close to $7,500. This is the highest level in the past two months. Currently, Bitcoin is hovering around $77.79K.



Not just Bitcoin, other major currencies have also risen together. Ethereum, XRP, and Solana all shifted from red to green. When such events occur, the demand for risk assets increases, so the stock market also reached new highs with the S&P 500 and Nasdaq. The Strait of Hormuz transports one-fifth of the world's oil shipments, so its open status is extremely important for the energy markets. It appears that when risk decreases, the crypto market reacts first.
XRP-2.17%
SOL-2.55%
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