Crypto Market Reaction

A tumultuous 72 hours unfolded in the cryptocurrency sector after President Trump announced a “complete and total” ceasefire between Iran and Israel, expected to commence shortly.

“It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now),” wrote Trump.

The announcement triggered substantial gains for leading cryptocurrencies. Bitcoin rebounded significantly, climbing to above $106,000, after having traded as low as $98,500 the prior day. As of the latest update, it settled back slightly to $105,300.

U.S. stock futures also experienced positive movement, posting gains of around 0.5%, while crude oil prices fell to $65 per barrel, a stark decrease from the day’s earlier peaks.

Other cryptocurrencies such as Ethereum and XRP also saw increases, with ether reflecting gains of 8%, while XRP surged nearly 11% following the ceasefire news. Mixed reactions and a brief period of uncertainty surround the permanence of this agreement were noted, but reports indicate that a senior Iranian official has confirmed Trump’s claim.

Stay tuned for further developments regarding the ceasefire and its implications on the crypto markets.