CoinDesk
Bitcoin is watching the risk-on rally from the sidelines. After briefly attempting to follow stocks higher, BTC is changing hands at $76,800, down nearly 1% over the past 24 hours. Ether, Solana and XRP are posting similar losses.
Why it matters
Markets have been rugged on supposed Middle East peace deals several times in recent weeks, but President Trump's Saturday announcement of a coming agreement continues to hold weight. Oil prices and bond yields are sharply lower on the news, which is feeding the bid in equities — the Nasdaq is up 1.4% in Tuesday morning trade. Crypto traders, however, are shoveling capital into AI-related trades and positioning for mega-IPOs from SpaceX and OpenAI rather than rotating back into digital assets.
Market impact
The chip stocks are the day's clear winners. Micron is up 17% after UBS lifted its price target to $1,625, more than double Friday's close and putting the stock more than 800% higher on a year-over-year basis. The disconnect is the read: macro risk-off is easing, but the marginal dollar is chasing AI infrastructure, not BTC.
Frequently asked questions
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Why is bitcoin flat while stocks are surging?
Macro risk-off is easing on Trump Saturday's Middle East peace announcement — but crypto traders are rotating capital into AI-related chip trades and positioning for mega-IPOs from SpaceX and OpenAI rather than back into digital assets.
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What is bitcoin's current price level?
BTC is changing hands at $76,800, down nearly 1% over the past 24 hours, after briefly attempting to rally alongside equities.
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How are major altcoins performing?
Ether (ETH), Solana (SOL) and XRP are down similarly to bitcoin, each posting losses of roughly 1% over the past 24 hours.
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Why are chip stocks leading the rally?
Micron is up 17% after UBS lifted its price target to $1,625, more than double Friday's close. The stock is now up over 800% year-over-year as the AI infrastructure trade absorbs the macro risk-on flow.
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What is the Iran peace deal and why does it matter?
President Trump announced on Saturday that a Middle East agreement is coming. Oil prices and bond yields have dropped sharply in response, fueling equity gains — though similar announcements have been rugged in recent weeks, so traders are cautious.
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