The Strait of Hormuz is fully reopened, and Bitcoin surged to 78K. MicroStrategy (MSTR) jumped 12%.

On news that the Strait of Hormuz has been fully reopened, the U.S. stock market surged on the spot, with the S&P and Nasdaq indices once again setting new all-time highs. Yesterday, Bitcoin pushed as high as $78,333; the Fear & Greed Index has climbed back into the “greed” range at 62, the first time since last October. MicroStrategy Strategy once again turned from loss to profit, and MSTR jumped nearly 12% yesterday, leading digital asset finance company (DAT) to rebound across the board.

(The White House announces the Strait of Hormuz is “fully open”: Iran’s foreign minister confirms merchant ships can pass, and the U.S. maritime blockade will be maintained for now)

Iran opens the Strait of Hormuz, oil prices plummet, and U.S. stocks hit fresh highs again

On X, Iran’s foreign minister Aliraghi said that in coordination with the Lebanon ceasefire agreement, during the remaining period of the ceasefire, the Strait of Hormuz has been “declared fully open” to all commercial vessels. This marks the first full restoration after nearly seven weeks since the Feb. 28 U.S.-Iran attacks and Iran’s blockade of the strait.

With worries about supply disruptions easing, oil prices plunged. U.S. West Texas Intermediate (WTI) crude oil futures fell nearly 12%, closing at $83.85 per barrel, while Brent crude oil futures (BRENT) dropped 9%, closing at $90.38 per barrel.

Hope for a peace agreement drove the stock market to record new all-time highs this week, with all three major indices posting solid gains. The Dow Jones Industrial Average rose 3.2% this week, the S&P 500 rose 4.5%, and the Nasdaq rose 6.8%.

Bitcoin pushes toward 78K as MicroStrategy jumps 12%

The cryptocurrency market rose 2.12% over the past 24 hours, with market capitalization reaching $2.61 trillion. The Fear & Greed Index has already climbed back into the greed range of 62, the first time since last October.

Bitcoin ETFs have shown net inflows for three straight days, while Ethereum ETFs have recorded inflows for six consecutive trading days, indicating that amid bullish market sentiment, capital has spilled over from the stock market into the crypto market.

Yesterday, Bitcoin pushed as high as $78,333, the highest since February. Because it exceeded the cost basis of MicroStrategy Strategy (original name MicroStrategy) at $75,577, MSTR surged nearly 12% yesterday, leading digital asset finance company (DAT) to rebound across the board.

(MicroStrategy gets its Bitcoin back fast! Can it lead DAT back from the brink of death?)

This article, “The Strait of Hormuz fully opened, Bitcoin pushes to 78K, and MicroStrategy (MSTR) surges 12%,” first appeared on Chain News ABMedia.