Bitcoin Rebounds: The Ceasefire Truce Propels BTC Beyond 107K$BTC Bitcoin rebounded after falling below $100,000 for the first time in over 46 days, finishing the week just above $107,000. The overall market capitalization of the cryptocurrency market increased from $3.2 trillion to $3.4 trillion in response to news of the truce between Iran and Israel.

The truce, an asset for the markets

After falling below the $100,000 mark for the first time in over 46 days, Bitcoin (BTC) rebounded to finish the week trading just above $107,000. The end of the war between Iran and Israel, which seemed to intensify after the United States bombed three nuclear sites, alleviated fears that it would escalate into a regional war.

Alarmed observers warned that an escalating regional conflict, igniting Iran and its proxies against Israel and the Arab nations accused by Tehran of facilitating Israeli air operations or harboring American forces, would inevitably paralyze the arteries of global trade. Although the conflict appeared to escalate after Iran retaliated by targeting American bases in Qatar on June 23, a few hours later, a fragile ceasefire seemed to hold.

Indeed, moments after Iranian missiles targeted positions in Qatar, BTC, like other stocks and assets, slightly rose from just above $101,000 to over $103,700. However, about 48 hours later, BTC had climbed to just below $108,000 before seeming to stabilize above the $107,000 mark. #proppeseguy #proppese