In a whirlwind 24 hours, financial markets reacted vigorously after President Trump suggested that the conflict with Iran might soon reach a resolution.
Trump remarked that the military actions against Iran are progressing much faster than anticipated, which was initially thought to take four to five weeks. He is scheduled to provide further updates on the situation at 5:30 PM ET.
The markets experienced a significant rebound following a steep decline on Sunday evening when oil prices surged by nearly 30%. Following Trump’s comments, both cryptocurrency and stock markets continued their upward trajectory.
As trading approached its close, the Nasdaq Composite had risen by 1.25%, while the S&P 500 gained 0.8%. Bitcoin (BTC) saw an increase of 2.4% over the last day, hovering just above $69,000 at approximately $68,914.50.
Conversely, oil prices took another hit. After soaring to $120 per barrel on Sunday night—a staggering rise of up to 30%—WTI crude plummeted back down to $85 per barrel today, marking a decline of about 6% for this trading session.
The surge in crypto-related stocks contributed positively on Monday as well; Circle (CRCL) jumped by 10%, while Strategy (MSTR) and Coinbase (COIN) increased by approximately 5% and 2%, respectively.