The US and Iran agreed to pause military strikes on July 26, triggering an immediate rally across global markets. Major US stock indices including the S&P 500, Dow Jones, and Nasdaq posted significant gains while oil prices dropped to multi-month lows. Bitcoin climbed as traders rotated back into risk-on positions after weeks of conflict-driven anxiety. The agreement builds on a preliminary deal from June 2026 regarding the Strait of Hormuz, through which roughly 20% of the world’s petroleum passes. During the escalation phase, approximately $80 billion was wiped from the broader crypto market capitalization.
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