🔥 Bitcoin surges beyond $106,000 following market optimism.
June 24, 2025 - (New York) United States President Donald Trump announced a ceasefire agreement between Israel and Iran on Monday evening, triggering a surge in cryptocurrency prices and broader market optimism. Taking to social media, Trump declared a "COMPLETE AND TOTAL CEASEFIRE" between the two nations, stating it would take effect "in about six hours."
Bitcoin, which was already recovering from volatile trading earlier in the day, surged nearly 3% on the news, reclaiming the $106,000 mark after having dropped as low as $98,500 in the past 24 hours. At press time, Bitcoin had slightly decreased to $105,300. The announcement also sent altcoins soaring, with Ether rising 8% to $2,400, XRP climbing 9% to $2.15, and Solana posting a 10% gain to reach $143.33.
Futures on U.S. stock indices recorded gains of about 0.5% in major indices, while crude oil prices plummeted sharply, falling to $65 a barrel after peaking at $75 earlier in the day.
Initial reactions to Trump's announcement were met with some skepticism, with confusion over whether a ceasefire had actually been confirmed. However, Reuters later reported that a senior Iranian official had corroborated Trump's claim, stating that Tehran had accepted the proposed ceasefire conditions with Israel.
The announcement of the ceasefire comes amid heightened geopolitical tensions and follows a period of significant volatility in global markets. Cryptocurrencies, in particular, have experienced wild price fluctuations over the past 72 hours, driven both by geopolitical developments and broader market sentiment.
While the ceasefire, if implemented, could signal a temporary easing of hostilities in the Middle East, analysts remain cautious about the long-term implications for regional stability. The markets, however, have viewed the announcement as a positive development, with investors seizing the opportunity to capitalize on renewed optimism.
