Bitcoin climbed 1.2% to $63,000, while Nasdaq futures surged 2.6%, indicating that markets are largely unaffected by U.S. airstrikes on Iran. Since the end of June, Bitcoin has gained 9%.
By Oliver Knight, Omkar Godbole|Edited by Sheldon Reback Jul 9, 2026, 10:36 a.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Bitcoin price (CoinDesk data)SummaryShow- Bitcoin increased by 1.2% to $63,000, ether rose 0.75%, and Nasdaq 100 futures gained as markets showed little reaction to U.S. airstrikes on 90 Iranian military sites.
- LIT and ETHFI led the altcoin sector, climbing 5.6% and 8.5% respectively, extending monthly gains to approximately 35%. ENA also rose by 5.6%, although it remains over 91% below its peak in September 2025.
- CoinMarketCap's Altcoin Season indicator rose by one point to 47/100 but remains within a tight range as investors hesitate to expand into altcoins until the leading cryptocurrencies show clearer signs of recovery.
The cryptocurrency market experienced a rebound on Thursday following a mid-week slowdown, with Bitcoin BTC$62,727.04 rising by 1.2% from midnight UTC to reach $63,000. Ether (ETH) also saw an increase of 0.75% to $1,755.
This uptick aligned with gains in the U.S. stock market, as Nasdaq 100 index futures rose by 2.6% in the last 24 hours, despite escalating tensions between the U.S. and Iran.
According to U.S. Central Command, 90 military targets were struck in the latest airstrike, which occurred just one day after President Donald Trump announced the end of the ceasefire.
While markets initially reacted negatively, the cryptocurrency sector proved resilient, bouncing back from oversold conditions and continuing a strong performance since the start of July.
Bitcoin is now 9% above its closing price at the end of June, and several altcoins have outperformed, with LIT and ETHFI both experiencing around 35% growth during the same timeframe.
Market Dynamics
- The crypto futures market is currently seeing a pause, with 24-hour trading volume dropping nearly 20% to $191 billion and open interest (OI) remaining stable near $106 billion.
- Bitcoin's recent recovery to nearly $63,000 coincided with a decrease in open interest in major dollar and USDT-denominated futures, falling from 272K BTC to 266K BTC. This divergence indicates a reluctance among investors to engage in leveraged trading amid a volatile macroeconomic backdrop, a sentiment shared by ether, XRP, and Solana.
- Open interest in Canton Network's CC token futures rose for the third consecutive day, reaching 271 million tokens, the highest since May 31. However, the token continues to decline, suggesting an influx of bearish positions.
- Interest in perpetual futures linked to the S&P 500 index is increasing, with open interest reaching levels not seen since SpaceX's Nasdaq debut nearly a month ago.
- The 30-day implied volatility indexes for BTC and ETH are under renewed pressure, ending a two-day upward trend, signaling a resurgence in options supply and expectations for market stability.
- On Deribit, put options for BTC and ETH are more expensive than calls across all time frames, reflecting downside fears. In contrast, Wall Street sentiment shows a strong bias towards bullish bets in S&P 500 stock options.
Token Insights
- LIT and ETHFI led the Thursday gains, rising 5.6% and 8.5% respectively since midnight UTC, continuing their rallies from the previous week.
- Ethena (ENA) also demonstrated strength, increasing by 5.6% since Wednesday's low, although it has lost over 91% of its value since its peak in September 2025 as investors moved away from the yield-generating DeFi platform.
- WLFI, associated with the Trump family, has struggled significantly during this bear market, dropping an additional 0.5% on Thursday despite the overall market recovery, remaining down about 90% from its all-time high.
- CoinMarketCap's Altcoin Season indicator increased by one point to 47/100 on Thursday, likely due to the strong performance of DeFi tokens. However, it remains at this level as investors remain cautious until the major cryptocurrencies show significant recovery.
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SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls
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Stablecoin market cap dropped to $312B in June, marking its largest monthly decline since TerraUSD, while tokenized equity volumes surged by 145% to a record $3.86B.
By CoinDesk ResearchJul 7, 2026Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
Why it matters:
Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
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