Stocks rally as oil sinks on Iran de-escalation
US equities surged and oil hit a 10-week low after Trump said renewed strikes on Iran were highly unlikely, even as the EU prepares Iran sanctions.
What we know
The FT reports oil hit a 10-week low after Trump said strikes on Iran were 'highly unlikely'. Market accounts report the S&P 500 up about 2% and the Nasdaq up about 2.4%, with $1.5T added in US market cap and gold higher. The Richmond Fed's Barkin said inflation risks remain elevated, and NY Fed data showed 1-year inflation expectations at 3.91%. Separately, France's foreign minister said the IRGC was behind a cyber campaign and that EU sanctions on Iran will follow, and a report of an East-West pipeline attack in Saudi Arabia caused a limited fire, citing SPA.
How the story developed
US equities surged and oil hit a 10-week low after Trump said renewed strikes on Iran were highly unlikely, even as the EU prepares Iran sanctions.
US stocks added about $1.5T as the Nasdaq 100 gained ~3% and oil fell. The NY Fed survey showed inflation expectations slightly above forecast, and CPI is due Tuesday.
BTC slid to about 75K, closing below its 50-week MA, with over $1B of longs liquidated in 24h. US equities bounced sharply, leaving crypto lagging and traders split on whether this is a bottom or a counter-trend rally.
BTC dropped to ~$75K and closed below its 50-week MA, with $1B+ of longs liquidated in 24h. Traders watch Tuesday's CPI and $81.4K as a trend-change level, while equities bounce.
BTC fell below $74K and closed under its 50-week MA, with over $1B in long liquidations. Strategy added 1,036 BTC, bringing its holdings to 850,364 BTC.
Bitcoin is sitting in its 200-day moving average cloud across major fiat pairs. Caleb Franzen says he is buying, citing a 2023 parallel, while others note Wintermute flipping long.
BTC is back near its 200-day MA, with traders split between calling a bottom and fearing more downside. Contrarian dip-buying talk is circulating.
Sources
“Oil prices hit 10-week low after Trump says strikes on Iran 'highly unlikely'”
View post →Compiled with AI by the Global Eye 24 desk from public posts across 5 of our monitored source feeds, and updated each hour while the story develops. Spot an error? Write to corrections@globaleye24.com.