Altcoins surge,
After Trump’s Israel-Iran ceasefire announcement, will this period last???
Altcoin prices have increased significantly after Trump’s announcement as he announced a ceasefire between Iran and Israel,
Cryptocurrencies like CNY, Chainlink, and Avalanche have been the biggest beneficiaries of this announcement,
Meanwhile, Ethereum, Solana, XRP, and Bitcoin also showed improvement in their prices, which helped to recover the losses incurred at the end of the week,
Trump said in a Truth Social post that “The ceasefire is now in effect, please do not violate it.” The announcement came as US forces, along with Israel, carried out strikes on Iranian nuclear facilities, causing significant volatility in the markets.
However, shortly after the ceasefire was announced, Israel claimed that Iran had fired missiles and signaled a strong response.
Iran denied the attack on Israel and warned that any further aggression would be met with a strong and timely response.
Experts have warned that this market recovery may be temporary as the geopolitical situation is fragile.
Gyanesh Mahidhar, an investment professional, said that the market is expected to experience significant volatility in the coming days as the uncertainty of government leaders continues.
He praised the “resilience” of Bitcoin, which has maintained its position despite geopolitical changes.
Crypto markets are currently up 11.8%, Chainlink 9.7%, Avalanche 5.6%, Solana 7.4 XRP was the most prominent with a 7.8%, Dogecoin 6.5%, Ethereum 6.3% and Cardano 6% increase in prices.
Experts attributed the increase to the ceasefire announcement, as the crypto market is sensitive to geopolitical situations.
Other markets in the Asia-Pacific region are also reacting positively to the ceasefire announcement, including the stock markets of South Korea, Japan and Hong Kong.
Bitcoin also reached the $105,000 level, almost recovering from the decline at the end of the week.
Last week, US and Israeli forces attacked Iranian nuclear facilities, in response to which Iran launched a missile attack on a US air base in Qatar.
These tensions were destabilizing the markets until Trump announced a ceasefire.
However, the sustainability of the ceasefire and the direction of the market in the future will be determined by other factors such as inflation, interest rates The rate, and the acceptance of stable cryptocurrencies will depend on .