Daily Market Update: SpaceX IPO, Bitcoin Rebound, and Iran De-escalation Move Markets

TLDR

• Bitcoin climbed back above $63,000, up 1.6% on Friday, after Trump signaled an end to the Iran conflict
• US stock futures were mixed, with S&P 500 futures down 0.1% and Nasdaq 100 futures off 0.3%
• SpaceX priced its IPO at $135 per share, raising $75 billion — the largest IPO in history — with a market cap of $1.78 trillion
• Brent crude dropped 2% to $88.50 as Iran tensions eased, relieving inflation pressure
• Broader crypto markets rose, with Solana up 3% and Hyperliquid’s HYPE leading gains at 7.6%

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Bitcoin is climbing back into positive territory this week as a sudden shift in the Iran conflict calmed markets. At the same time, Wall Street is focused on the biggest IPO in history hitting the Nasdaq on Friday.

President Trump said the US was close to a deal with Iran and claimed he had “ended the war with Iran today.” The statement reversed a week of risk-off trading across stocks, crypto, and commodities.

Bitcoin traded at $63,550 on Friday, up 1.6% on the day. Earlier in the week, it had dropped below $60,000, touching levels last seen in 2024. It has since recovered to a weekly gain of 1.4%.

The broader crypto market also bounced. Ether rose 1.3% to $1,673. Solana added 3% to reach $67. XRP and Dogecoin each gained more than 2%. Hyperliquid’s HYPE led the major tokens, up 7.6% on the day. TRON was the only major decliner, falling 2%.

Iran Deal Eases Inflation Fears

The Iran de-escalation pulled oil prices lower. Brent crude dropped 2% to around $88.50 a barrel. Lower oil tends to ease inflation, which had been driving bets on higher interest rates — a key factor that had been weighing on both crypto and stocks all week.

Gold and silver moved higher on the news. Global equities also responded. South Korea’s Kospi rose 8.4%. The MSCI Asia Pacific index gained 3.5%, its biggest single-day rise in two months. European shares were set to open up 1.8%.

Trump said a formal deal could be signed as soon as this weekend in Europe. Whether markets hold their gains will depend on that deal going through.

SpaceX Makes History on the Nasdaq

SpaceX listed on the Nasdaq on Friday after raising $75 billion in the largest IPO ever recorded. The company priced its shares at $135, giving it an expected market cap of $1.78 trillion. Pre-listing markets were pricing in a first-day pop of at least 35%.

US stock futures were mixed heading into the open. Dow futures held steady. S&P 500 contracts edged down 0.1%. Nasdaq 100 futures fell 0.3%.

Investors are also watching Friday’s University of Michigan consumer sentiment report. The index hit an all-time low of 44.8 in May, and the latest reading will be closely watched for signs of how US consumers are feeling about the economy.

SpaceX’s debut is expected to draw heavy attention from both retail and institutional investors. A weak first-day performance would be closely scrutinized given the scale of the raise and the company’s $1.78 trillion valuation.

The day marks a rare moment where a landmark stock event and a crypto recovery are happening at the same time, driven by the same geopolitical trigger.