Oil prices declined and global stocks surged following a de-escalation in the Iran situation, helping cryptocurrencies recover from a turbulent week.
By Shaurya Malwa Jun 12, 2026, 5:14 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- Bitcoin surged past $63,000 after experiencing a week of risk aversion, aided by a sudden easing in tensions with Iran.
- Global financial markets reacted positively to the perceived resolution of the Iran conflict, with oil prices dropping, and both gold and silver climbing, while Asian stock indices recorded their largest gains in months.
- Other cryptocurrencies also saw increases alongside Bitcoin, but the sustainability of this upward trend depends on a formal agreement regarding Iran that President Trump mentioned could be finalized in Europe this weekend.
The negative sentiment that impacted cryptocurrencies throughout the week is beginning to shift. Bitcoin has returned to positive territory, primarily due to a swift de-escalation in the Iran conflict.
On Friday, Bitcoin was trading at $63,550, marking an increase of 1.6% for the day and 1.4% for the week, according to CoinDesk data. Just days prior, it had plummeted to levels not seen since 2024, dropping below $60,000, but has since rebounded to achieve a weekly gain.
A significant factor in this recovery was President Donald Trump announcing that the United States was nearing a deal with Iran and that he had "ended the war with Iran today." This news was interpreted by markets as a signal that the prolonged conflict, which had caused significant price fluctuations for over 100 days, was coming to an end. Brent crude oil prices fell by 2% to around $88.50 per barrel, while gold and silver prices experienced a notable rise.
This positive momentum also influenced stock markets. South Korea's Kospi, which reflects AI stocks, surged by 8.4%. The MSCI Asia Pacific index saw a 3.5% increase, marking its largest gain in two months. Meanwhile, US stock futures indicated an upward trend, and European shares were predicted to rise by 1.8% at the opening.
A more stable Middle East alleviates pressure on oil prices, which in turn helps reduce inflation concerns that had fueled expectations for higher interest rates—concerns that had negatively impacted both cryptocurrencies and gold earlier in the week.
The upward trend was widespread. Ether climbed 1.3% to $1,673, BNB rose 1.5% to $602, and Solana increased by 3.0% to $67. XRP and Dogecoin each gained over 2%. Hyperliquid's HYPE led the major cryptocurrencies with a 7.6% rise for the day, though it remains the weakest performer over the week. TRON was the only cryptocurrency to decline, falling by 2.0%.
Market attention is now shifting to SpaceX, which is set to list on Nasdaq on Friday after raising $75 billion, marking the largest IPO in history. Pre-listing markets are anticipating a debut increase of at least 35%.
Bitcoin has increased by 1.4% over the past week, a significant turnaround from a week that started with it hitting bear-market lows. The sustainability of this rebound is contingent on the signing of the Iran deal, which Trump indicated might occur this weekend in Europe.
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RWA Tokenization Hits $28.9B Record as Stablecoin Market Cap Extends Gains to $320B
RWA Tokenization Hits $28.9B Record as Stablecoin Market Cap Extends Gains to $320B
Tokenized assets hit a record $28.9B in May; their tenth consecutive monthly all-time high. The stablecoin market cap also extended its run to $320B.
By CoinDesk ResearchJun 9, 2026Tokenized assets hit a record $28.9B in May; their tenth consecutive monthly all-time high. The stablecoin market cap also extended its run to $320B.
Why it matters:
Tokenized assets hit a record $28.9B in May; their tenth consecutive monthly all-time high. The stablecoin market cap also extended its run to $320B.
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