Wall Street added roughly $350 billion in market value within 15 minutes after Axios reported that US and Iranian negotiators had reached a draft ceasefire deal. Bitcoin (BTC) moved the other way, sliding more than 3% on the day. The proposed 60-day extension still awaits final approval from President Donald Trump and Iran’s senior leadership, leaving the rally exposed to last-minute political resistance on both sides. The equity reaction was almost immediate, with the S&P 500 and NASDAQ reaching new record highs. Meanwhile, Bitcoin extended losses below $73,000, trading at $72,890, down nearly 5% in the last 24 hours. Treasury Secretary Scott Bessent said sanctions and the naval blockade remain active until a formal agreement is signed. The split between stocks and BTC sharpened Mark Cuban’s hedge critique, as he noted Bitcoin now trades as a risk-on asset rather than a hedge. The next move may hinge on whether Trump signs and how quickly Tehran lifts shipping restrictions.

Key facts

• Wall Street added $350B in 15 minutes after Axios reported a US-Iran ceasefire draft.
• Bitcoin dropped over 3%, trading at $72,890, contrasting with the equity rally.
• The 60-day ceasefire draft awaits final approval from Trump and Iran's leadership.
• Treasury Secretary says sanctions and naval blockade remain until formal signing.
• Mark Cuban notes Bitcoin acts as a risk-on asset, not a hedge.

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