Read, Watch or Listen

Washington, United States – Bitcoin climbed above $75,000 on Tuesday as U.S. equities also advanced, even as geopolitical tensions escalated following a U.S. military blockade targeting Iranian ports and parts of the Strait of Hormuz. The gains in cryptocurrency and stocks came after a breakdown in peace talks between the United States and Iran and the launch of the blockade, which analysts said could restrict Iranian oil exports and disrupt key Gulf transit routes. Crypto analyst Lark Davis said such supply constraints may push global energy prices higher, feed into inflation and typically weigh on risk assets, including both digital assets and equities. However, he noted that markets were “acting like none of this is happening,” with prices and sentiment signaling confidence that the disruption will not last long. New York, United States – Bitcoin (BTC) rallied more than 5% to around $75,500 in midday trade, after touching an intraday high above $75,800, according to CoinGecko, while it remained more than 40% below its October record above $126,000. Retail sentiment on Stocktwits around BTC stayed in bullish territory with high levels of chatter. Major U.S. equity benchmarks also moved higher, with the SPDR S&P 500 ETF gaining over 1%, the SPDR Dow Jones Industrial Average ETF rising 0.66%, and the Invesco QQQ Trust adding 1.4%. Retail sentiment on SPY improved from extremely bearish to bearish, alongside elevated message activity. Davis wrote that many national leaders and their constituents want the conflict to end and said market behavior reflects expectations that the majority’s will could soon produce peace. President Donald Trump told reporters that communication with Iran is ongoing and said the other side “would like to make a deal very badly.” A softer-than-expected March producer price index reading also supported risk assets. Year-to-date, Bitcoin has fallen more than 13%, while SPY has gained over 1%.

By Sarah Whitman | JQJO News