Bitcoin surged to $70,800, marking a daily gain of over 1%, as major economies announced coordinated actions to stabilize energy markets. The rebound followed a decline in oil prices, with WTI crude falling nearly 2% to $93.80 per barrel. Major altcoins like Ethereum and XRP posted smaller gains, underperforming Bitcoin. The United Kingdom, France, Germany, Italy, the Netherlands, and Japan issued a joint statement condemning Iran's actions and pledging to secure shipping in the Strait of Hormuz. This announcement contributed to the drop in oil prices. Meanwhile, U.S. Treasury Secretary Bessent hinted at potential sanctions relief for Iranian tankers and the release of strategic petroleum reserves, adding to market dynamics.