TLDR
- Bitcoin climbed back above $65,000, up 1.2% in 24 hours, as geopolitical tensions eased
- Ether outperformed with a 3% gain to near $1,950, hinting at possible altcoin rotation
- U.S. and Iran paused military strikes for a second day, lifting risk appetite across markets
- Oil dropped as much as 6%, with Brent crude falling below $87, easing some inflation pressure
- Stock futures rose broadly, with Nasdaq-100 contracts jumping 1.4% ahead of a busy earnings week
Bitcoin has climbed back above $65,000 as the United States and Iran paused military strikes for a second straight day, lifting risk appetite across financial markets.
The ceasefire pause raised hopes that peace negotiations could restart after two weeks of attacks. Iran said it would continue to halt airstrikes as long as the U.S. did the same.
BREAKING: US stock market futures surge after the US and Iran halt strikes:
1. S&P 500: +0.7%
2. Nasdaq 100: +1.2%
3. Dow Jones: +0.6%
4. WTI Crude: -8.0%
5. Brent: -6.0%
6. Gold: +0.7%The market is beginning to price-in a peace deal again.
— The Kobeissi Letter (@KobeissiLetter) July 26, 2026
Oil prices fell sharply in response. Brent crude dropped over 5% to below $87 a barrel, while WTI futures fell around 5% to $85.
Bitcoin rose about 1.2% over 24 hours, trading around $65,169. Ether gained over 3% to nearly $1,950, outperforming Bitcoin on the day.
Other top-10 tokens also gained. Solana and XRP each posted increases in the 1% to 2% range.
Vikram Subburaj, CEO of Indian exchange Giottus, said Ether’s move suggests some rotation into alternative cryptocurrencies. He noted Bitcoin’s dominance still sits at 58.6%, meaning a broad altcoin rally has not yet started.
Stocks Rise Ahead of Fed and Big Tech Earnings
U.S. stock futures also pushed higher. Dow Jones futures gained 0.8%, S&P 500 futures rose 0.8%, and Nasdaq-100 contracts jumped 1.4%.
The Federal Reserve meets on July 28 and 29. Markets currently assign a 36.3% probability to a 25-basis-point rate hike, making this one of the least-predicted Fed decisions in recent memory.
A drop in oil prices could ease some pressure on the Fed, which has been watching inflation closely. Cheaper oil tends to reduce broader price pressures across the economy.
Earnings season also hits a peak this week. Microsoft, Meta, Apple, and Amazon are all due to report.
Investors will be watching capital spending plans closely, especially around artificial intelligence. Alphabet and Tesla’s recent AI spending figures unsettled parts of the tech sector last week.
Other companies reporting this week include Coca-Cola, Starbucks, Procter & Gamble, and Arm Holdings. The week wraps up with ExxonMobil and Chevron.
Bitcoin Cycle Analysis Points to Possible Bottom
Some analysts are also watching Bitcoin’s longer-term price pattern. Joao Wedson, CEO of analytics firm Alphractal, noted that the time between each Bitcoin halving and the following bear market bottom has historically been around 900 days.
The current cycle is at day 827. Based on that pattern, Wedson said Bitcoin may be building a price bottom, with a potential final low forming within the next two months.
Currency markets also reflected the improved mood. The Australian dollar and euro both gained against the U.S. dollar on Monday.
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