Evening digest: Oil slips, Bitcoin rallies above $81k as geopolitics shift
Global markets saw mixed signals Tuesday as the US said its ceasefire with Iran remains intact despite fresh clashes near Hormuz, oil prices fell on easing escalation fears, Bitcoin climbed to $81,500 amid rising tokenization momentum, and Intel shares surged on optimism around potential foundry deals with Apple.
US reaffirms Iran ceasefire despite fresh tensions
The United States sought to downplay fears of a return to full-scale conflict with Iran, even after renewed attacks targeting vessels and infrastructure in the Gulf region.
General Dan Caine, chairman of the Joint Chiefs of Staff, said Iran’s actions did not cross the threshold required to restart major combat operations.
Defense Secretary Pete Hegseth reinforced that position, confirming the ceasefire remains in effect despite heightened tensions.
Violence flared after President Donald Trump announced “Project Freedom,” aimed at escorting stranded commercial ships through the Strait of Hormuz.
US naval forces have already facilitated safe passage for vessels, signaling continued involvement in maintaining shipping routes.
Iran, however, warned ships against transiting the strait without approval and introduced new protocols requiring official clearance.
President Masoud Pezeshkian reiterated that US demands remain “impossible,” highlighting the ongoing diplomatic deadlock.
Oil slides as ceasefire signals ease escalation fears
Oil markets reacted quickly to signs that the conflict may not escalate further.
Brent crude fell about 4% to settle near $109.87 per barrel, while US West Texas Intermediate dropped close to 4% to around $102.27.
The decline followed reassurances from US officials that the ceasefire remains intact despite recent missile and drone attacks on the UAE.
Hegseth stated, “the ceasefire is not over,” while adding that developments are being closely monitored.
Still, risks remain elevated. Chevron CEO Mike Wirth warned that tightening supply conditions could lead to fuel shortages, noting: “It’s not just a question of price.”
Analysts also pointed to uneven inventory distribution globally, raising concerns about localized shortages even as overall stock levels remain above emergency thresholds.
Bitcoin extends gains to $81,500
Bitcoin extended its rally, climbing to around $81,500—its strongest level since January—and marking a gain of more than 35% from early February lows.
The move was supported by continued inflows into spot Bitcoin ETFs, with over $500 million entering funds managed by BlackRock and Fidelity in a single session.
Momentum also spread to tokenization-focused plays.
Bullish surged after announcing its $4.2 billion acquisition of Equiniti, while Galaxy Digital gained following new tokenized fund initiatives.
Centrifuge’s native token also jumped after Coinbase partnered with the protocol to bring traditional financial products onto blockchain infrastructure.
Analysts say tokenization remains one of the fastest-growing intersections of traditional finance and blockchain, with long-term projections pointing to significant expansion.
Intel surges on Apple foundry talks
Shares of Intel (NASDAQ: INTC) surged about 15% to an intraday high of $110.48, driven by optimism that the company could secure a major customer for its foundry business.
The rally followed a Bloomberg report that said Apple held exploratory discussions with Intel regarding chip manufacturing in the United States.
Apple is also evaluating Samsung Electronics as part of a broader strategy to diversify its supply chain beyond Taiwan Semiconductor Manufacturing Company.
CEO Tim Cook acknowledged ongoing supply constraints, stating, “We have less flexibility in the supply chain than we normally would.” He added, “The primary constraint is the availability of the advanced nodes our SoCs are produced on, not memory.”
For Intel, landing Apple would represent a major validation of its manufacturing ambitions, which are central to its broader turnaround strategy under CEO Lip-Bu Tan.
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