Bitcoin (BTC) price climbs to $63,000 as markets shrug off Iran airstrikes: Crypto Markets Today

The crypto market bounced back from a mid-week lull on Thursday, with bitcoin BTC$62,880.76 rising by 1.2% since midnight UTC to $63,000 while ether (ETH) advanced 0.75% to $1,755.

The move tracked U.S. stock market gains, as Nasdaq 100 index futures added 2.6% over the past 24 hours despite the escalation of tensions between the U.S. and Iran.

U.S. Central Command said it hit 90 military targets in the latest round of airstrikes, which took place 24 hours after President Donald Trump said the ceasefire was over.

Markets initially sold off at the time, but crypto remained resilient, rallying from oversold territory to extend a relatively hot streak since the turn of the month.

Bitcoin is now 9% higher than June’s monthly close and a selection of altcoins has continued to outperform with lighter (LIT) and ether.fi (ETHFI) surging by around 35% over the same period.

Derivatives positioning

• The crypto futures market is taking a breather, with 24-hour volume dropping almost 20% at $191 billion and open interest (OI) steady near $106 billion.
• Bitcoin’s overnight recovery to nearly $63,000 is accompanied by a decline in open interest in major dollar and USDT-denominated futures to 266K BTC from 272K BTC. These diverging trends shows investor reluctance to take leveraged bets in such a volatile macroeconomic environment. The same is true for ether, XRP and solana.
• OI in Canton Network’s CC token futures increased for a third straight day, with the tally rising to 271 million tokens, the most since May 31. The token continues to slide and, as noted yesterday, the concurrent increase in futures OI points to an influx of short positions or bearish bets.
• Activity in perpetual futures tracking the S&P 500 index is again picking up, with OI increasing to the highest since SpaceX debuted on Nasdaq nearly a month ago.
• BTC and ETH’s 30-day implied volatility indexes are back under pressure, snapping a two-day winning streak in a sign of renewed supply of options and expectations for market calm.
• On Deribit, BTC and ETH puts remain pricier than calls across all time frames, reflecting downside concerns. The sentiment on Wall Street is the polar opposite: The average skew in S&P 500 stock options shows a record bias for calls, or bullish bets.