Bitcoin rose 1.2% on Thursday to $63,000. Nasdaq futures were not left out, with a jump of 2.6%, and the markets seemed little troubled by the new American airstrikes on Iran. Does this apparent indifference reflect a new maturity of the crypto market in the face of geopolitical crises?
In brief
- Bitcoin climbed to $63,000 on Thursday, bringing its gain to 9% since the June close.
- LIT and ETHFI led the altcoin rally, with monthly gains close to 35%.
- CoinMarketCap’s Altcoin Season indicator remains stable at 47 out of 100, despite the general recovery.
Bitcoin absorbs the shock of American strikes without flinching
On Wall Street as on the crypto markets, the news could have cast a chill. Ninety Iranian military targets hit in a single night, a ceasefire declared void by Donald Trump twenty-four hours earlier: enough to fuel a wave of panicked sales. Thursday morning, however, the market preferred to look elsewhere.
Bitcoin rose 1.2% since midnight UTC to settle at $63,000. Ether followed, more timidly, with a gain of 0.75% to $1,755. This movement followed the trend of the American stock market: Nasdaq 100 futures climbed 2.6% in twenty-four hours, despite the escalation between Washington and Tehran.
The markets initially fell sharply when the strikes were announced. They then recovered, thus extending a phase of increase that began at the beginning of July. Bitcoin now shows a 9% gain from the June monthly close. The dollar and oil also reacted strongly to tensions in the Middle East.
LIT and ETHFI in the lead, the altcoin season still on pause
Tokens lighttwurst (LIT) and ether.fi (ETHFI) led the gains on Thursday, rising 5.6% and 8.5% respectively since midnight UTC. Over a full month, their growth reached around 35%, a rate significantly higher than that of the rest of the market.
Ethena (ENA) also showed signs of strength, gaining 5.6% since its low point on Wednesday. The token, however, remains fragile: it still shows a drop of more than 91% compared to its peak in September 2025. Investors have largely deserted this DeFi yield platform since last year.
The WLFI, linked to the Trump family, fell by 0.5% on Thursday despite the general rebound. Like ENA, it remains around 90% below its all-time high. CoinMarketCap’s Altcoin Season indicator gained only one point to reach 47 out of 100. Investors therefore remain cautious, until the big cryptos have confirmed a clearer recovery.
On derivatives, caution still dominates positions
The crypto futures market is taking a notable pause. Twenty-four-hour traded volume fell nearly 20% to $191 billion. Open interest has barely changed, still anchored at nearly 106 billion.
Bitcoin’s rebound was accompanied by a decline in open positions on the main contracts denominated in dollars and USDT. They fell from 272,000 to 266,000 BTC, a divergence that illustrates the reluctance of investors to take significant risks in such an unstable macroeconomic environment.
On Deribit, put options remain more expensive than call options on bitcoin and ether, a signal that betrays persistent fears of a decline.
Another signal worth paying attention to is that open interest in Canton Network’s CC token futures rose for the third day in a row, reaching 271 million tokens. This level had not been observed since May 31. It coincides with a continued fall in the price of the token, which betrays an influx of bearish bets rather than a surge in confidence.
In short, bitcoin is going through this new geopolitical escalation without losing significant ground, driven by the momentum that began at the beginning of July. The caution of positions on derivatives and the stagnation of the Altcoin Season, however, show that investors remain on guard.
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