The S&P 500’s longest weekly profitable streak since 2023 and Brent crude settling close to $92 on U.S.-Iran ceasefire hopes have failed to tug bitcoin
The S&P 500 posted its ninth consecutive weekly acquire on Friday, the longest such run since 2023 and a streak matched solely a handful of instances up to now 4 many years, placing the index up nearly 20% from its March lows.
Brent crude settled round $92 a barrel and Treasuries climbed on the week, trimming a few of their war-driven losses.
The macro tailwind has come on hopes the U.S. and Iran will log out on a 60-day ceasefire extension. President Donald Trump mentioned Friday he was able to make a “last dedication” on a preliminary settlement however restated his demand that any deal require Iran to desert its nuclear program, give up its enriched uranium and open the Strait of Hormuz.
Crypto didn’t transfer with the tape. Bitcoin slipped 2.6% over the previous seven days to $73,445, ether 2.5% to $2,011, solana (SOL) 2.2% to $82.42 and TRON’s TRX 5.6%, its worst weekly drop within the prime 10, based on CoinDesk information.
The exception was the smaller aspect of the leaderboard. Hyperliquid’s HYPE token ripped 19.4% on the week to $65 as sentiment for the asset continues to develop. Intercontinental Trade chief Jeffrey Sprecher praised the decentralized perpetuals venue at a Bernstein convention and calling it “greater than NASDAQ.” BNB closed up 1.9% and XRP eked out a 0.7% weekly acquire.
The Iran deal nonetheless wants Trump’s signature, and the crimson strains he restated on Friday sit properly past what Iran has indicated it will settle for publicly. The macro rally is one dangerous headline from reversing.
