On the evening of April 7, 2026 local time, U.S. President Donald Trump announced a preliminary two-week ceasefire agreement with Iran (mediated by Pakistan and others, with Iran committing to reopen the Strait of Hormuz).

Geopolitical tensions eased abruptly, market risk appetite rebounded sharply, and risk assets rallied across the board. Crypto Market Leads the Rally: Bitcoin surged nearly 5%, hitting a three-week high of $72,700 before holding steady above $71,000.

Ethereum, Solana, and other major coins rose 3%-6% in tandem. Total crypto market capitalization jumped about 3.4% in 24 hours, reclaiming the $2.47 trillion level.

Traders noted that reduced conflict risk should ease energy prices and further support risk-on sentiment.U.S. Stock Futures Also Strong: Dow Jones, S&P 500, and Nasdaq 100 futures opened up 1.8%-2.2%.

Tech and growth stocks led the gains, with crypto-related names like Coinbase also climbing.

Oil prices fell sharply, with Brent crude briefly dropping below key psychological levels. Analysts say that while the ceasefire is only “preliminary” and lasts two weeks, it has been enough to boost market confidence.

If it evolves into a longer-term peace deal, the upward momentum in risk assets could continue. Investors are now watching closely for compliance and follow-up negotiations.