Market update: Iran ceasefire and crypto use case

What happened: Markets rallied last week as a fragile US-Iran ceasefire held, with crypto assets leading the charge. The S&P 500, Nasdaq, and Dow all gained over 2% on the week. Crypto markets surged on hopes that the Clarity Act, which could provide legal clarity for crypto, will be passed. Wall Street also showed increased interest in cryptocurrencies, with fresh capital flowing into Bitcoin and Ethereum spot ETFs. Meanwhile, Delta Air Lines' stock rose on expectations of higher fares, and Iran's use of crypto at tollbooths made headlines.

Market impact: The tech and crypto sectors benefited from the rally, with Bitcoin and Ethereum gaining over 10% each. The ceasefire and potential passage of the Clarity Act boosted investor sentiment, driving demand for riskier assets. Delta's stock price increase reflects expectations of higher revenue due to increased fares. However, the future remains uncertain, with the Iran ceasefire already facing strains.

What to watch next: The evolution of the US-Iran situation will continue to influence markets. Key catalysts include any developments in the Clarity Act's progress, upcoming earnings reports from tech companies, and any shifts in geopolitical tensions. Specifically, watch for updates on the ceasefire's status, any new crypto regulations, and earnings from tech giants like Apple and Amazon.