Bitcoin Climbs to $63,000 as Iran Tensions Ease

The rebound followed stronger Nasdaq futures and a calmer tone around Iran. Derivatives trading stayed cautious even as Bitcoin and Ether recovered.

Key Takeaways

• Bitcoin bounced back to $63,000 on Thursday, while Ether climbed to $1,755 and the broader crypto market recovered from earlier this week’s drop.
• The move came after renewed tension around Iran, but crypto found support after slipping into oversold territory and stayed above the June low.
• The derivatives market remained cautious, with lower futures volume and steady open interest in Bitcoin and Ether.

Bitcoin continued its recovery on Thursday, reaching $63,000 (€55,200) as the wider crypto market moved on from earlier this week’s pullback. Ether also pushed higher to $1,755 (€1,540), largely following the improved mood on Wall Street, where Nasdaq 100 futures were up 2.6% even after fresh tensions around Iran.

The Market Is Rebounding Fast

The latest move came after U.S. Central Command said it had struck 90 military targets in a new round of airstrikes. That followed President Donald Trump’s statement roughly 24 hours earlier that the ceasefire was over. Markets initially reacted with a sell-off, but crypto quickly bounced from oversold levels and kept extending the strong run it has built since the start of the month.

Bitcoin is now 9% above June’s monthly close. Several altcoins also outperformed the larger tokens, with names like Lighter and ether.fi gaining about 35% over the same period.

Derivatives Are Still Cautious

Spot prices recovered, but leveraged trading did not pick up nearly as much. Total 24-hour volume in the crypto futures market dropped almost 20% to $191 billion (€167 billion), while open interest held steady at around $106 billion (€93 billion). In Bitcoin futures, open interest across major dollar- and USDT-denominated contracts eased from 272,000 BTC to 266,000 BTC, suggesting traders are still keeping risk in check in a shaky macro environment.

That same caution is showing up in Ether, XRP, and Solana. Meanwhile, open interest in futures tied to Canton Network’s CC token rose for a third straight day to 271 million tokens, the highest level since May 31. With the price moving lower at the same time, that could be a sign that short positioning is building.

Why This Matters

For European crypto readers, the main takeaway is that crypto is once again trading closely with broader risk sentiment. Higher stock futures, calmer volatility, and a restrained derivatives market suggest traders are not leaning too aggressively in either direction for now, even with Bitcoin still holding above the June low. That makes the next round of macro data and geopolitical headlines especially important for sentiment around Bitcoin and Ether. In that context, it’s worth noting that the recent rebound had already been slowed by weak ETF flows and lower open interest, which shows how sensitive the market still is to a lack of conviction in derivatives and funds.