#MarketRebound 🔥Why did the cryptocurrency market rise today?

The cryptocurrency market has risen today, following Trump's announcement that Israel and Iran had agreed to a ceasefire, which has led investors to return to risk mode. The cryptocurrency market rose by 4.4% on June 24, with its capitalization reaching $3.26 trillion.

More than $358 million in long cryptocurrency positions were liquidated in the last 24 hours.

The TOTAL chart of the cryptocurrency market capitalization is showing a bullish flag.

The cryptocurrency market is up today, with the total market capitalization increasing by approximately 4.4% in the last 24 hours to reach $3.26 trillion on June 24.

The total trading volume of 24 hours across all crypto assets has also increased by 10% to $150 billion, suggesting growing interest from buyers in crypto assets. Bitcoin leads the market recovery.

Cryptocurrency prices began to rise during the last trading hours in New York on June 23 after U.S. President Donald Trump announced a "total ceasefire" between Israel and Iran, alleviating fears of a prolonged conflict in the Middle East.

In a post on Monday on Truth Social, Trump stated that Israel and Iran have agreed to a complete ceasefire that will start in a few hours, potentially ending what he called the "12-Day War."

"It has been fully agreed between Israel and Iran that there will be a complete and total ceasefire (in approximately 6 hours from now)."

The 12-day conflict, marked by Israeli attacks on Iranian nuclear sites and retaliatory missile strikes, had triggered a risk-averse sentiment, pushing Bitcoin. Another factor driving today's rally is a wave of short position liquidations that have triggered a significant short squeeze.