Trump Iran Truce Sparks Five Percent Crypto Rally as Oil Crashes

Markets snap back hard as President Trump delays Iran strikes for five days following what he calls productive conversations. Bitcoin surges five percent above seventy-one thousand dollars, Ether rallies to over two thousand one hundred, and oil prices crash eleven percent in a dramatic reversal. Gold recovers nearly all losses while Treasury yields drop one hundred basis points. Despite the relief bounce, options traders remain deeply skeptical-Bitcoin and Ether put premiums stay elevated at eight to ten volatility points over calls through June, signaling traders expect economic aftershocks from the oil volatility. Meanwhile, tokenized Brent crude futures see over sixty-two million in liquidations on Hyperliquid as long positions get crushed. Crypto-related equities jump-Coinbase, Galaxy Digital, and MicroStrategy all gain two to three percent in pre-market. We break down what this five-day window means for traders positioning around Iran deadline risk, whether this bounce is tradable or just a short squeeze, and why the options market is pricing in continued turbulence ahead.