Bitcoin (BTC) made a strong recovery on Monday after spending the weekend in the doldrums as market sentiment worsened. The flagship cryptocurrency plummeted to multi-month lows after the US conducted airstrikes on key Iranian nuclear sites, as the conflict between Israel and Iran threatened to spiral out of control.
However, market sentiment turned positive after President Trump announced that Israel and Iran had agreed to a ceasefire. As a result, BTC rallied over 4% on Monday to reclaim $105,000 and settle at $105,442.
President Trump Announces Israel-Iran Ceasefire
US President Donald Trump has announced that Israel and Iran have agreed to a full ceasefire, set to begin in a few hours. The ceasefire halts what Trump referred to as “The 12-Day War” in a post on Truth Social. Trump stated that the ceasefire would unfold in two phases, with Iran observing the first 12 hours, followed by Israel. Trump also added that Iran had notified the US about the attack on its military base in Qatar and that there were no casualties.
“CONGRATULATIONS TO EVERYONE! It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now, when Israel and Iran have wound down and completed their in-progress, final missions!), for 12 hours at which point the war will be considered, ENDED!”
The ceasefire follows a significant escalation in hostilities over the weekend as both countries intensified air attacks. The US also joined the conflict and conducted air strikes on key Iranian nuclear facilities.
Saylor Hints At Next Bitcoin Purchase
Michael Saylor, co-founder and Executive Chairman of Strategy, has hinted at the company’s next purchase. Saylor posted a chart highlighting Strategy’s previous Bitcoin acquisitions on X, alongside a caption stating,
“Nothing Stops This Orange.”
Saylor typically posts cryptic posts before a major Bitcoin purchase. Under his leadership, Strategy has established itself as the largest corporate holder of the asset, amassing 592,100 BTC worth around $60 billion at current prices.
Saylor’s latest post came after an investor sued him, Strategy, and top company executives, claiming they breached their fiduciary duties before reporting a multi-billion dollar Bitcoin loss in Q1 results. According to the shareholder derivative complaint filed by Abhey Parmar in a Virginia federal court, Saylor, Strategy CEO Phong Le, financial chief Andrew Kang, and four board directors made materially false and misleading statements about an accounting practice change. According to the complainant, Strategy enacted a Financial Accounting Standards board rule that allowed corporate holders of crypto to use the estimated market value of their crypto in their balance sheets.
Anthony Pompliano Raises $750M To Take Crypto Company Public
Crypto entrepreneur Anthony Pompliano has raised $750 million to take his crypto firm, ProCap, public in the US by merging it with the blank-check firm Columbus Circle Capital Corp. The merged companies will debut as ProCap Financial Inc., with over $1 billion in Bitcoin on its balance sheet. The merger is expected to close before the end of the year, according to a statement released by both companies. Pompliano will lead the new firm once it goes public. The crypto entrepreneur stated that ProCap will focus on acquiring BTC for its balance sheet and develop products and services to generate revenue.
“Today, I am announcing a $1 BILLION merger to create ProCap Financial, a bitcoin-native financial service. The company will be a publicly traded entity on Nasdaq at the conclusion of the proposed business combination between my private company ProCap BTC, LLC, and Columbus Circle Capital Corp I, a publicly traded SPAC. ProCap Financial will focus on acquiring bitcoin for its balance sheet while also developing products and services to produce revenue and profit from the bitcoin on our balance sheet over time.”
ProCap will join several other companies that buy and hold Bitcoin, a business model pioneered by Michael Saylor’s Strategy. ProCap’s plan to acquire $1 billion worth of BTC will place its holdings as the eighth-largest among public firms.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) started the new week positively as bullish sentiment returned after President Trump announced that Israel and Iran announced a complete ceasefire. The flagship cryptocurrency spent the weekend in the red as market sentiment worsened, thanks to the unfolding crisis in the Middle East. The US also joined the conflict on Sunday when it conducted precision strikes on key Iranian nuclear sites. BTC and the crypto market plummeted as the conflict threatened to spiral out of control. As a result, BTC plunged below $100,000, falling to a low of $98,385 before rebounding to reclaim $100,000. The ceasefire announcement saw market sentiment turn bullish, pushing BTC past $105,000 on Monday.
BTC started the previous weekend in positive territory despite plunging to a low of $102,854. The price recovered from this level to register a marginal increase, reclaim $106,000, and settle at $106,106. BTC fell back into the red on Saturday, dropping 0.59%, but registered a marginal rise on Sunday to end the weekend at $105,561. BTC raced to an intraday high of $108,939 on Monday but could not stay at this level and settled at $106,808, ultimately registering an increase of 1.18%. Price action turned bearish on Tuesday, falling over 2%, slipping below the 20-day SMA and settling at $104,519. Despite the overwhelming selling pressure, BTC recovered on Wednesday, rising 0.35% to $104,884.
Source: TradingView
However, sellers were back in control on Thursday as the price registered a marginal decline to skip below $105,000 and settle at $104,631. BTC raced to an intraday high of $106,513 on Friday as buyers attempted to overwhelm sellers. However, it lost momentum after reaching this level and dropped 1.19%, slipping below the 20-day SMA and settling at $103,388. Sellers retained control on Saturday as the price fell 1.17% and settled at $102,180. BTC plunged to an intraday low of $98,385 on Sunday as market sentiment worsened. However, it rebounded from this level to reclaim $100,000 and settle at $100,982. BTC opened the current week in positive territory as markets bounced back, rallying over 4% to reclaim $105,000 and settle at $105,422. The current session sees BTC marginally down as buyers and sellers struggle to establish control.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
