Investors are hopeful for a definitive resolution in the Middle East conflict.
U.S. President Donald Trump brought relief to the international community by announcing on Monday night (23) that Israel and Iran agreed to a ceasefire. Both governments expressed support for the truce, but new attacks have been reported from both sides, which puts the ceasefire in jeopardy that could end the 12-day war.
Global markets, however, are hopeful for a definitive resolution in the Middle East conflict, which has escalated in severity with U.S. attacks on Iran over the weekend.
After briefly losing the $100,000 level days ago, Bitcoin is trading this Tuesday morning (24) at $105,253, benefiting from a 3.8% increase in the last 24 hours. In Brazilian reais, BTC is quoted at R$ 577,360.
"The weakening of the dollar and the gradual return of risk appetite contributed to this recovery of Bitcoin," assesses André Franco, analyst at Boost Research. "The short-term expectation is that this appreciation continues, as long as the ceasefire between Iran and Israel is respected."
Like Bitcoin, altcoins are also experiencing a strong rise on Wednesday. XRP leads the way, gaining 9.6% on the day, while Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) follow closely behind, with gains exceeding 7.5%.
Expanding the scope to the 100 largest cryptocurrencies in the market, the standout of the day is the SEI token, which jumps 40% in the last 24 hours. Sonic (S) and Virtuals Protocol (VIRTUAL) also deserve attention, with both appreciating more than 20% on the day.
Experts warn that volatility is expected to prevail in the crypto market in the coming days.
"Amid three extremely unpredictable heads of government, the markets will just play ping-pong," said Ganesh Mahidhar, investment analyst at Further Ventures, to Decrypt.
The main difference, according to him, is the 'resilience' of Bitcoin in the face of geopolitical events, highlighting 'the continued dominance of the asset, despite risk assets rising and falling like meme stocks.'