Crypto Market Rallies as Trump Signals Possible Israel-Iran Ceasefire
The cryptocurrency market surged on Tuesday, June 24, after U.S. President Donald Trump announced that Israel and Iran may have reached a ceasefire following 12 days of hostilities. While Trump claimed both nations had agreed to halt attacks, Israel has yet to confirm, and reports indicate Iran fired missiles early Tuesday, leaving the situation uncertain.
Markets responded quickly to the news. After a weekend marked by sharp losses amid fears of a broader Middle East conflict, global crypto market capitalization rose 2.4% to $3.35 trillion. Bitcoin jumped 3.7% to $105,000, while Ethereum climbed 7% to $2,396. Solana and XRP also rallied, gaining 7% and 6%, respectively.
Investor sentiment improved notably. The Alternative Crypto Fear & Greed Index spiked 18 points to 65, signaling a shift back into “Greed” territory. According to Coinglass, the market’s average relative strength index increased to 58, suggesting neutral momentum. Open interest in crypto derivatives rose 4% to $135 billion, while liquidations fell 24% to $481 million.