#IsraelIranConflict The price of Ethereum and XRP rises during the relief rally, but these currencies are heading towards a strong increase: Analysis

The cryptocurrency market saw a notable rise today, following President Donald Trump's announcement of a complete ceasefire between Iran and Israel, which led to a general market recovery as global tensions seemingly eased.

Oil prices fell by 2.92%, with Brent crude dropping to $69.39 as tensions in the Middle East subsided and analysts rejected the supply shortage scenario. Meanwhile, futures for the S&P 500 index rose by 0.58% to reach 6,112, and the dollar index fell by 0.32% to 98.10. Gold price volatility decreased as demand for safe-haven assets diminished. Gold prices fell by 2% to $3,315.8 per ounce, as investors shifted from defensive positions to high-beta cryptocurrency investments and riskier assets like stocks and ETFs.

The market capitalization of cryptocurrencies increased by 2.9% to reach $3.23 trillion, with Bitcoin rising by 3.6% to $105,471, and Ethereum