Bitcoin climbed back above $63,000 on Friday, up 1.6% on the day and 1.4% over the week, as a sudden de-escalation in the Iran conflict lifted global markets. President Trump said the US was close to a deal with Iran, triggering a rally in stocks, gold, and silver, while oil prices fell. The risk-off mood that had pushed bitcoin below $60,000 earlier in the week reversed sharply. The bounce was broad across major cryptocurrencies, with Hyperliquid's HYPE leading gains at 7.6%, while TRON declined 2.0%. The durability of the recovery hinges on a formal Iran deal that Trump suggested could be signed in Europe over the weekend. A calmer Middle East eases inflation concerns tied to oil prices, reducing pressure for higher interest rates. Meanwhile, attention is also on SpaceX's Nasdaq listing on Friday, the largest IPO ever at $75 billion, with pre-listing markets pricing a debut pop of at least 35%.

Key facts

• Bitcoin rebounded above $63,000, up 1.6% on the day and 1.4% over the week.
• Trump's de-escalation signal on Iran drove global markets higher and oil lower.
• Major altcoins rose broadly, with HYPE up 7.6% and TRON down 2.0%.
• SpaceX lists on Nasdaq on Friday in the largest ever IPO at $75 billion.
• Recovery sustainability depends on a formal Iran deal expected this weekend.

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